Press Release: November 2008: Economic sentiment falls to historically low levels in both the EU and the euro area

In November, the Economic Sentiment Indicator (ESI) declined considerably in the EU and the euro area. This came after another sharp decline in sentiment observed in the October survey. It fell by 6.7 points in the EU and by 5.1 points in the euro area, to 70.5 and 74.9, respectively. The ESI for the EU stands at its lowest since January 1985, while that for the euro area is at the lowest since August 1993.