November 29, 2018 / 10:13 AM / 5 months ago

Euro zone sentiment eases in November, but less than expected

Bull and bear statues are pictured outside Frankfurt's stock exchange in Frankfurt, Germany, December 17, 2015. European shares surged on Thursday as investors took the U.S. Federal Reserve's interest rate rise and the prospect of further tightening as a sign of confidence in the world's biggest economy. REUTERS/Ralph Orlowski

BRUSSELS (Reuters) - Euro zone economic sentiment continued to deteriorate in November but less than predicted, thanks to an unexpected rise in optimism in industry, data showed on Thursday.

Economic sentiment in the 19 countries sharing the euro eased to 109.5 in November from 109.7 in October, the European Commission said, continuing a trend of falls every month this year.

Economists polled by Reuters had expected a deeper fall to 109.0, but a surge of optimism in industry, which took the index to 3.4 in November from 3.0 in October against expectations of a decline to 2.5, cushioned the fall.

Sentiment in services, a sector which produces two thirds of the euro zone GDP, was unchanged at 13.3 in November against October while optimism among consumers fell to -3.9 from -2.7.

A separate business climate indicator, which helps point to the phase of the business cycle, rebounded slightly in November to 1.09 from 1.01 in October after falling from 1.21 in September and August.

Reporting By Jan Strupczewski

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below