PARIS (MNI) – Eurozone consumer sentiment brightened more than
expected in November after little change in the previous two months,
according to the flash estimate released Monday by the European
Commission.
The sentiment index climbed from -10.9 in October to -9.5, resuming
the recovery since the setback last spring at the outset of the
Eurozone’s sovereign debt crisis. Most analysts had expected little
change on the month but were split on the direction.
In October, consumers said overall economic conditions had improved
and expected the trend to continue, though at a slower pace.
Nevertheless, unemployment concerns rose after seven months of decline.
While their assessment of their recent and future financial situation
was unchanged, they said their were making a few more large purchases
now, but expected no further increase over the next 12 months
Across the Eurozone, confidence gains in Germany and neighboring
countries in October were offset by declines on the periphery, with
little change elsewhere.
The definitive figure for November should be released next week as
a component of the Commission’s comprehensive economic sentiment survey.
–Paris newsroom +331 4271 5540; e-mail: stephen@marketnews.com
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