In February 2020, the Economic Sentiment Indicator (ESI) increased in both the euro area (by 0.9 points to 103.5) and the EU (by 0.5 points to 103.0).
The Employment Expectations Indicator (EEI) eased mildly in the euro area (by 0.3 points to 105.0) and the EU (by 0.6 points to 104.5).
The improvement of euro-area sentiment resulted from higher confidence among consumers and, to a lesser extent, industry managers, while sentiment in services, retail trade and construction remained virtually unchanged. Amongst the largest euro-area economies, the ESI saw marked improvements in the Netherlands (+2.0), France (+1.9) and Spain (+1.2), while a more moderate one in Germany (+0.6). Sentiment in Italy remained flat (+0.0).
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