Eurozone economic sentiment edges higher

(Sharecast News) - Economic confidence in the eurozone edged higher in November, according to a survey released on Thursday by the European Commission, but remained below its long-term average. The Economic Sentiment Indicator for the single-currency region rose 0.1 points to 95.8, surprising economists who had predicted a fall to 95.1.

"The broadly stable ESI reflected higher confidence in industry and retail trade, which was offset by lower confidence in services and among consumers. Confidence in construction improved only marginally," the European Commission said.

Meanwhile, the employment expectations sub-index fell 0.3 point to 98.9, with the EC pointing to "less optimistic employment plans" among construction and retail-trade managers.

Amongst the largest economies, the headline ESI improved in France (+3.0), Spain (2.1), the Netherlands (+1.5), but eased in Germany (-1.3) and Italy (-0.3).