Euro zone economic sentiment inches up in November
2023.11.29 14:14
© Reuters. FILE PHOTO: A customer shops next to a sign reading “Anti-inflation challenge, third price cut” at a Carrefour supermarket in Montesson near Paris, France, September 13, 2023. REUTERS/Sarah Meyssonnier/File Photo
BRUSSELS (Reuters) – Euro zone economic sentiment increased slightly for a second consecutive month in November, in line with expectations, as a modest up-tick of the mood in services, retail and amongst consumers outweighed a decline in manufacturers’ confidence.
The European Commission’s monthly survey on Wednesday showed economic sentiment in the 20 countries sharing the euro rose to 93.8 points from a revised 93.5 in October. Economists polled by Reuters had expected an increase to 93.7 points.
Sentiment in services, the biggest sector of the euro zone economy, rose against expectations of a decline, while for industry, sentiment fell against expectations of an increase.
Employment expectations declined due to less optimistic employment plans among service managers. Plans in industry and retail were barely changed and for construction were more optimistic.
Inflation expectations among consumers declined for the second consecutive month, while selling price expectations among manufacturers dropped to a three-year low.
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