Eurozone Economic Sentiment Indicator rose to 91.1 in September, up from 87.5, beat expectation of 89.4. EU ESI rose 3.4 pts to 90.2. The reading in both regions has so far recovered nearly 70% of the combined losses of March and April already. Employment Expectations Indicator also improved, up 2.3% to 91.8 in Eurozone, and up 2.4% to 91.8 in EU.
Looking at some details for the Eurozone, industrial confidence rose from -12.8 to -11.1. Services confidence rose form -17.2 to -11.1 Consumer confidence rose from -14.7 to -13.9. Retail trade confidence rose from -10.5 to -8.7. Construction confidence rose from -11.8 to -9.6.
From a country perspective, the ESI continued to recover in all the largest euro-area economies, namely in Italy (+8.4), France (+5.8), the Netherlands (+2.1), Spain (+1.6) and Germany (+1.2). All in all, in these countries, between 55 (Spain) and 80% (Germany) of confidence losses suffered during the lockdown were recovered.
