Eurozone economic sentiment reached an eight month low in February, survey data from European Commission showed Friday.
The economic sentiment index fell to 103.8 in February from 105.1 in January. This was the lowest score since June 2015. It was forecast to drop to 104.3.
The industrial confidence dropped to -4.4 from -3.1 in January. The decline was largely due to managers’ more pessimistic views on the current level of overall order books and worsened production expectations.
The services confidence indicator came in at 10.6, down from 11.5 in prior month. The weakness was caused by managers’ markedly grimmer demand expectations.
The consumer confidence index dropped as initially estimated to -8.8 from -6.3 in January.
The retail trade sentiment indicator slid to 1.6 from 2.7 a month ago. The decline of retail trade confidence was fueled by markedly worsened business expectations.
Another survey from the EU showed that the business climate index fell to 0.07 from 0.29 in January.
All underlying components of the BCI, except for managers’ appraisal of stocks of finished products, contributed to the decline. The worsening was most pronounced in managers’ appraisal of past production, total order books as well as their production expectations.
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