Europe economic sentiment improves further in Sept: Commission

27 September 2013 15:16  [Source: ICIS news]

LONDON (ICIS)--The European Commission’s economic sentiment indicator (ESI) further improved in September, both for the eurozone and the EU, the Commission said on Friday.

In the 28-member EU, the ESI rose by 2.4 points to 100.6, bringing the indicator above its long-term average for the first time since July 2011. In the 17-member eurozone, the ESI rose by 1.6 points to 96.9.

Economic sentiment improved in three of the five largest euro area economies: Spain (+2.5), Italy (+2.5) and France (+1.6). Sentiment in Germany remained broadly unchanged (+0.3), while it worsened in the Netherlands (-0.9), the Commission said.

In the wider EU, September’s improvement was led by the largest non-euro area EU economy, the UK (+6.9).

Industry confidence in the eurozone increased (+1.1), driven by businesses’ more positive assessment of production expectations as well as their current level of overall order books and stocks of finished products, the Commission said.

Other recent surveys have also indicated that Europe’s economy seems to be slowly recovering.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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