Economic sentiment deteriorated in the euro area and in the EU in October

Economic sentiment in the euro area deteriorated more than expected for the second consecutive month in October, reaching a five-year low, as industry sentiment is increasingly spreading to services and consumers, which is a bad signal for the region’s growth prospects.

The European Union’s Directorate-General for Economic and Financial Affairs (EcFin) announced on Wednesday that the Economic Sentiment Indicator (ESI), decreased by 0.9 points to 100.8 points in the euro area in October. (MTI)