The employment expectations indicator (EEI) turned down in both areas: by 1.2 points to 98.1 in the EU and by 1.5 points in the euro area to 97. Both indicators scored below their long-term average of 100.
The strengthening of the ESI in the EU stemmed from improved confidence in industry and among consumers, which was moderated by a decrease in construction confidence. Confidence in retail trade remained broadly unchanged and services confidence was stable.
The economic sentiment indicator rose in February in both the EU and the euro area by 1.1 points to 97.1 and by 1 point to 96.3 respectively.
The employment expectations indicator turned down in both areas: by 1.2 points to 98.1 in the EU and by 1.5 points in the euro area to 97.
Retail trade confidence remained broadly stable and Industry confidence rose for the second month in a row.
The improvement in economic sentiment was reflected in most of the largest EU economies, with the ESI increasing significantly in Poland (plus 3.4), and noticeably also in France (plus 2.3), Germany (plus 1.2) and the Netherlands (plus 0.8). Italy (minus 0.4) and Spain (minus 2) registered a decline in their respective ESIs.
Industry confidence increased for the second month in a row in February (plus 1.4), as all three components—managers’ production expectations and their assessments of the current level of order books and the stocks of finished products—improved.
Consumer confidence improved slightly (plus 0.4) in the month as consumers became less pessimistic about the general economic situation in their respective country and increased their intentions to make major purchases.
Their views on both their households’ expected financial situation and past financial situation remained essentially stable.
Retail trade confidence remained broadly stable (minus 0.2). Retailers’ business expectations for the next three months and their views on the past business situation worsened moderately, but they were almost offset by an improvement in the assessments of the volume of stocks, a release from the Commission said.
The Commission’s economic uncertainty indicator (EUI) remained stable at 18.2. Managers’ uncertainty about their future business situation increased in services and construction, offset by lower uncertainty among managers in industry and retail trade. Consumers’ uncertainty about their future financial situation continued to decline in February.
Fibre2Fashion News Desk (DS)
