Eurozone Economic Sentiment Weakens For Sixth Month

Eurozone economic sentiment deteriorated for a sixth consecutive month and at a faster than expected pace in February, survey results from the European Commission showed on Wednesday.

The economic sentiment indicator fell to 105.3 from 106.2 in January. Economists had expected a reading of 106.

The industrial confidence index dropped to -0.2 from 0.7 and the score was worse than the 0.1 economists had predicted.

The services confidence measure eased to 7.1 from 8.4 in January. That was much below the 11 reading economists had expected.

The consumer confidence index edged up to -7.2 from -7.8 in January. The reading was better than the -7.4 flash estimate.

Morale weakened in the construction industry, but improved in the retail trade sector.

The business climate index showed a score of 0.69 in February, which was unchanged from January. Economists had forecast a score of 0.67.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Eurozone Economic Sentiment Weakens For Sixth Month

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