Euro area economic morale slightly weakens in February

ANKARA

Economic confidence in the euro area slightly weakened in February after posting improvement during the prior three-month period, according to a European Commission report released on Monday.

The economic sentiment indicator (ESI) decreased by 0.1 points from a month earlier to 99.7 in February, well below the market forecast of 101.

Economic sentiment in the EU came to a half in February as the ESI was unchanged at 97.8 in February as a result of lower confidence in industry and services, offset by increasing confidence in retail trade and among consumers.

Sentiment in construction remained stable in the 27-member bloc.

Among the largest EU economies, the ESI decreased in Spain by 2 points and France by 1.5 points, while it increased in the Netherlands (up 2.9) and stayed broadly flat in Germany and Italy.

Meanwhile, consumer confidence in the eurozone economy recovered by 1.7 points to a year high of minus 19.0 in February.

Consumer confidence in the EU also increased for a fifth month in a row, up 1.5 points month-on-month to minus 20.6 in February.

The eurozone/euro area (EA19) represents member states that use the bloc’s single currency – the euro – while the EU (EU27) includes all of its member countries.