Data published by the European Commission showed that in November, the index of sentiment in the eurozone economy fell by 1.1 points to 117.5 points, which coincided with forecasts. Meanwhile, the employment expectations indicator increased by 1.7 points to 115.6 points, reaching the highest level since January 2018. The data also showed that the consumer confidence index deteriorated to -6.8 points from -4.8 points in October, which coincided with forecasts.
In the EU, the decline in the sentiment index in the economy was caused by a noticeable decrease in consumer confidence, while confidence in industry and the service sector as a whole did not change, and in retail and construction increased. The industry confidence index remained at the second highest value in history. The index of confidence in the service sector remained generally stable (+0.2) due to a more positive view of past and expected demand, while their assessment of the past business situation worsened compared to October. Meanwhile, a significant increase in retail confidence (+1.6) was associated with an improvement in the assessment of the past business situation and the expected business situation. In construction, confidence improved slightly (+0.5), which was due to improved expectations of managers regarding employment. Confidence in financial services also increased (+0.9). Although managers' estimates of past and expected demand have improved, their assessment of the past business situation has worsened.