Eurozone economic confidence remained unchanged in November as increases in sentiment among consumers and in services and construction were offset by deteriorating confidence in manufacturing and retail trade.
The economic confidence index came in at 106.1, unchanged from October. The expected score was 105.9.
The large majority of the survey results were collected before the Paris terror attacks of Friday 13.
The industrial confidence index fell to -3.2 in November from -2 in October. It was also weaker than the expected score of -2.1.
The services confidence index rose to 12.8 from 12.3 a month ago. The slight improvement was driven by managers’ brighter demand expectations, while their assessment of the past business situation and past demand remained broadly unchanged.
Consumer confidence increased strongly to -5.9 from -7.5, resulting from more positive assessments of future unemployment, the future general economic situation and households’ future savings, while consumers’ expectations of their own financial situation remained broadly unchanged.
The retail trade confidence came in at 5.8 versus 6.4 in October. The negative development in retail trade confidence resulted from more positive views on the present business situation and the adequacy of the volume of stocks being offset by a substantial decline in managers’ business expectations.
The construction confidence index rose to -17.8 from -20.7 in the previous month. The marked rise in construction confidence above its long-term average for the first time since September 2008 – was fueled by upward revisions in both managers’ employment expectations and their assessment of the level of order books.
Another survey showed that the business climate indicator decreased slightly to 0.36 in November from 0.44 in October.
Managers’ production expectations and their appraisal of total and export order books worsened markedly. The current stock of finished products was assessed slightly more negatively. By contrast, managers’ assessment of past production remained broadly unchanged.
The material has been provided by InstaForex Company – www.instaforex.com