Euro-Area Economic Confidence Rises to Highest Since Januaryby
Index increases to 104.9 in September from a 103.5 in August
ECB President Draghi sees ‘modest’ recovery in the region
Euro-area economic confidence unexpectedly improved in September in a sign the region’s recovery is maintaining its momentum.
- Index of business and consumer confidence rose to 104.9 from a 103.5 in August (median forecast was 103.5)
- September’s reading is the highest since January
- EU-wide economic sentiment increase to 105.6 from 103.8
The euro area’s economy is showing signs of a “modest” recovery, European Central Bank President Mario Draghi said in Berlin on Wednesday. Data on Friday is forecast to show inflation at 0.4 percent in the region. While that’s far below the ECB’s goal of just under 2 percent, it would be the strongest reading since 2014. The central bank’s 1.7 trillion-euro ($1.9 trillion) bond-buying program is set to run until March.
- Sentiment in industrial sector increased to -1.7 from -4.3
- Consumer confidence rose to -8.2 from -8.5, confirming an initial Sept. 22 estimate
- Service sector confidence inched up to 10 from 9.9
- Confidence in construction sector improved to -15 from -15.8