The economic sentiment indicator (ESI) rose in February in both the EU and the Eurozone after three straight declines.
- The Employment Expectations Indicator (EEI) surged to a new all-time high in the EU (+2.4 points to 115.8) and to its highest level since May 2000 in the euro area.
- In the EU, the ESI’s surge in February was driven by increasing confidence in services, retail trade and construction as confidence stayed nearly the same in industry and dropped slightly among consumers.
- Spain posted the largest improvement in economic sentiment indicator by +2.4, followed by France +1.9, Germany+1.2, and Italy, +1.0. Netherlands and Poland posted declines in ESI of -1.7.
- Selling price expectations for the three months continued to surge after a temporary interruption in December/January.
The EU’s new economic uncertainty indicator (EUI) dropped slightly in February for the first time in six months due to lower levels of perceived uncertainty of business sectors.
Euro Stoxx 50 up +1.88%, EUR USD up +0.13%
Source: European Union.