Eu Economic Sentiment Picks Up İn October

Eurozone economic sentiment rose above its 100-point long-term average in October after it dropped below this critical level in September, according to official data released on Thursday.



"In October, after four months of stagnation or decline, the Economic Sentiment Indicator picked up in both the euro area (by 0.8 points to 100.7) and the E.U. (by 0.5 points to 104.0)."



"The euro-area indicator thereby went back to just above its long-term average of 100," the E.U. Commission said.



Ranging between 0-200 points, the Economic Sentiment Indicator is calculated with a mean value of 100 and indicates economic optimism when it is above this mean value and a gloomy outlook when below this mark.



The commission said that the improvement of economic sentiment in the Eurozone was sourced from a recovery in all business sectors.



"While rises were important in retail trade, services and, particularly, construction, industry booked only a small increase and confidence among consumers remained broadly stable," the commission noted.



Economic sentiment rose in most of the large E.U. economies: in Germany by 0.6 point; in France by 1.1 points; in Italy by 0.5 point; and in the Netherlands by 2.1 points – except Spain where it showed a 0.7-point decrease.



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