Economic sentiment (ESI) in Europe in February 2014 was largely unchanged at +0.2 in both the euro area and the wider EU. Industry confidence improved slightly (+0.4) and the increase in services confidence (+0.8) was due to a more positive assessment of the past business situation but consumer confidence deteriorated due to expectations regarding savings, unemployment and the economic future. Retail trade confidence improved overall. An improved assessment of order books improved the confidence in the construction sector but in the financial services confidence decreased by 2.5 points.
Employment plans were revised upwards in services but remained unchanged in industry. Selling prices are expected to increase in services and construction but to fall in retail and industry. Consumer price expectations were rounded down.
In the wider EU, services and retail were positive but consumer confidence declined slightly especially in the UK. Employment plans were more negative in industry than in the euro area alone but were unchanged in retail.
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