Eurozone economic sentiment declines for ninth month in a row – ING

Eurozone’s Economic Sentiment Indicator declined from 111.6 to 110.9 in September, which means that sentiment has dropped in every month of the year so far, explains Bert Colijn, Senior Economist at ING.

Key Quotes

“In September, service sector sentiment improved while consumer confidence and industrial sentiment took another hit. The continued improvement in the labour market means the service sector has taken the lead in terms of its contribution to growth this year while the manufacturing sector is suffering more from the uncertain global economic environment.”

“For industry, production expectations continue to fall, although the ESI suggests that industrial output was somewhat stronger than in August.”

“The service sector expects demand to pick up further in the months ahead, but somewhat weaker employment expectations could cause the steady drop in unemployment over recent months to slow somewhat.”