Improved economic sentiment in the euro area

The European Commission's overall economic sentiment indicator (ESI) is rising for the fifth month in October, increasing from 103.2 points to 104.1 points, compared to the previous month.

The positive data is a surprise. The analysts expectated, that the indicator will decline to 103.1 points. Acccording to the analysts; the improvement of the index indicates, that the euro zone economy continues to strengthen in the forthcoming months.

But there are large differencies between the countries of the Euro zone: while the French business confidence accelerated, the Spanish and Portugese declined – reports privatbankar.hu.