The economic climate in the eurozone worsened in November, according to estimates, as consumers became less optimistic and cut inflation expectations, although forecasts for sales prices in manufacturing were at record levels.
The Commission’s economic climate index fell to 117.5 points in November from 118.6 points in October.
The main reason for the decline was the decline in consumer optimism, who were wary of the second wave of the coronavirus pandemic, and possible new restrictions.
In industry, the climate was marginally lower, at 14.1 from 14.2 points in October. For services, which make up the bulk of the eurozone economy, the climate rose to 18.4 from 18 points.
The climate also improved in retail and construction, but fell by two points for consumers to -6.8 points from -4.8 points, lowering inflation expectations to 39.3 points from 40 points. in October.
However, manufacturing sector sales expectations rose to 49 points from 42.3 points in October, the highest level since 2000, the commission said.
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Source From: Capital
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