The Busines Climate Indicator for the euro area increased slightly in September suggesting that economic activity will also incrrease in the coming months. It is at its highest level since December 2007. Production and employment expectations were good, order books were good particularly export orders.
Economic sentiment improved in both the euro area and the EU27 according to the Economic Sentiment Indicator for September. The ESI is well above its long-term average. Sentiment in industry is broadly unchanged. Improvement were reported in order books assessments and production expectations. Consumers were more pessimistic about the general economic situation and unemployment. Their feelings about their own savings expectations and their own future financial situation remained unchanged from August. Business managers were also pessimistic in their assessment of the business situation. The retail sectors estimation improved as did the construction industry's but in financial services, which is not included in the index, confidence fell.
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