According to the report from the European Commission, consumer confidence in the eurozone improved in November, confirming economists' forecasts, while the economic sentiment index rose more than forecasts and recorded the first increase since February.
The consumer confidence index rose to -23.9 points compared to -27.5 points in October. Meanwhile, the economic sentiment indicator rose to 93.7 from 92.7 in October (revised from 92.5). Consensus estimates suggested an increase to 93.5. The employment expectations indicator rose to 107.4 from 105.4 in October.
As for the EU countries, the economic sentiment indicator rose to 92.2 from 91.2 last month, and the employment expectations indicator increased to 106.3 from 104.9. The economic sentiment indicator increase was driven by a rebound in consumer confidence, which more than outweighed a further determination of industry confidence. Sentiment in services, retail trade and construction remained broadly unchanged.
The data also showed that the indicator of economic uncertainty fell in November to 27.8 from 29.8 in October. Uncertainty decreased in all surveyed business sectors and, in particular, among consumers.