Eurozone Economic Sentiment Declines in November

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by Maria Martinez

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Confidence among businesses and households in the eurozone fell in November amid rising inflation, supply-chain disruptions and a surge in coronavirus cases.

The European Commission said on Monday that its economic sentiment indicator, a composite measure of business and consumer confidence, fell to 117.5 in November from 118.6 in October. The result was in line with forecasts from economists surveyed by the Wall Street Journal.

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The indicator’s decline in November resulted from a significant drop in consumer confidence. The European Commission said sentiment across industry and services remained broadly unchanged and that retail trade and construction improved.

Sentiment rose in France, Italy and Poland, while weakened in Germany, the Netherlands and Spain.

The report shows that the employment expectation indicator in the Eurozone has increased further. Growth was driven by better employment plans in services, retail trade and construction, while employment expectations remained broadly unchanged across the industry.

The European Commission said sales-price expectations across all business segments rose further, reaching new all-time highs. Consumer-price expectations remained broadly stable, but at very high levels, the report showed.

Write to Maria Martinez at [email protected]

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