Euro zone economic sentiment rebounds in Nov more than expected By Reuters

Mortgage Rate Forecast Reveals "More Severe" Hit than Expected says Capital Economics

Euro zone economic sentiment rebounds in Nov more than expected

Published Nov 29, 2022 10:29

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Euro zone economic sentiment rebounds in Nov more than expected

© Reuters. FILE PHOTO: The European Central Bank (ECB) and the skyline with its financial district are photographed during sunset as the spread of the coronavirus disease (COVID-19) continues in Frankfurt, Germany, April 13, 2021. REUTERS/Kai Pfaffenbach

BRUSSELS (Reuters) - Euro zone economic sentiment rebounded in November slightly more than expected, data showed on Tuesday, rising for the first time since the Russian invasion of Ukraine in February on more optimism among consumers and in services.

The European Commission said its economic sentiment indicator rose to 93.7 in November from 92.7 in October, marginally beating consensus estimates in a Reuters poll of economists of a rise to 93.5.

Sentiment in industry deteriorated to -2.0 from -1.2 in October, far worse than the -0.5 expected by markets, while sentiment in services improved more than expected to 2.3 from 2.1 last month.

Consumers were strongly more optimistic with the indicator up to -23.9 against -27.5 in October.

Inflation expectations among consumers also fell sharply to 30.1 in November from 37.3 in October and among business to 40.4 from 44.8 in October.

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