Press Release: September 2012: Economic sentiment continues to decline in both the EU and the euro area

In September the Economic Sentiment Indicator (ESI) decreased by 0.9 points in the EU, to 86.1, and by 1.1 points in the euro area, to 85.0. In both areas, the decrease was due mainly to weaker confidence among services and retail trade managers, and consumers. While confidence in industry decreased in the euro area as well, it remained broadly stable in the EU.

On the positive side, construction managers in both areas were less pessimistic than in August. Among the largest Member States, sentiment worsened in Poland (-2.2), France (-1.6), the Netherlands (-1.2) and Germany (-1.1), while it improved in the United Kingdom (+0.4) and in Spain (+1.3). Sentiment remained broadly unchanged in Italy (-0.1).