Eurozone Economic Sentiment Weakens

(RTTNews) - Eurozone economic confidence weakened unexpectedly in September due to the fall in consumer sentiment, monthly survey data from the European Commission showed Tuesday.

The economic sentiment index dropped to 97.9 in September from 98.4 in the previous month. The score was forecast to rise to 99.0.

Industrial and services confidence strengthened, while retailers' sentiment dropped slightly.

Industry confidence improved further in September, thanks to sizeable improvements in managers' production expectations and assessments of current levels of overall order books.

The corresponding index climbed more-than-expected to -3.8, the highest since April 2023, from -5.0 in the prior month. The score was seen at -4.8.

At the same time, the services confidence index moved up to an eight-month high of 6.1 from 5.6 a month ago. However, the reading was below the expected level of 6.5.

At 16.5, the consumer confidence index hit a three-month low and also matched the flash estimate. It was down from -15.5 in August.

Confidence among contractors remained unchanged in September, with the index score at -5.0.

Further, the survey showed that employment expectations index slid to 97.5 in September from 98.8 in the previous month.