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Economic sentiment fell further in Eurozone in September

English.news.cn   2011-09-29 21:14:00 FeedbackPrintRSS

BRUSSELS, Sept. 29 (Xinhua) - Economic sentiment indicator (ESI) fell by 3.4 points in August to 95.0 in eurozone while it fell 3.4 points to 94.0 in EU, the European Commission said on Thursday.

The surveys are conducted in different sectors of the economy, namely industry, services, construction and retail trade as well as among consumers.

According to the surveys, confidence in all the sectors fell in August in the eurozone , with the biggest losses seen in service sectors (-3.7) and in industry (-3.2).

Confidence among consumers worsened in both the EU (-2.3) and the euro area (-2.6). In both regions consumers were more pessimistic about the future general economic situation and expressed higher unemployment fears. Their expected financial situation was also assessed more negatively than in previous months.

Among the seven largest economies, confidence in Italy declined the most, down by 5.1 points. It was followed by France, down by 3.5 points, and UK, down by 3.4. The ESI is now above its long-term average only in Germany.

Meanwhile, the business climate indicator (BCI) for the eurozone in September also fell for the seventh month in a row and was now in slighly negative territory, the Commission said in a separate survey.

The steady fall observed since March indicates a further slowdown, although growth in eurozone industry output remains positive.

 Special Report: Global Financial Crisis

Editor: Xiong Tong
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