Europe Business Slightly Happier, Consumer Spending A Little More Confident …
- January 30th, 2013
- Posted by EUEditor
The start of 2013 has seen a pick-up in the economic outlook in the European Union, indicated in regular surveys.
The January Business and Consumer Surveys published by the European Commission today, 30.1.13, showed recovery, after losses during at least the last 18 months.
The EC report on the figures states:
In January the Economic Sentiment Indicator (ESI) increased by 1.4 points in both the EU (to 90.6) and the Euro area (to 89.2).
In the EU, confidence improved in services, construction, retail trade and among consumers, while deteriorating slightly in industry. In the Euro area, confidence picked up in construction, services and among consumers and remained broadly unchanged in industry and retail trade.
In both regions, the ESI rose for the third consecutive month – but remains well below its long-term average.
Similarly, the Flash Consumer Confidence Survey for January, showed what was described as a marked rise, while remaining still below long-term average.
It went from – 23.9 last December to – 21.9, (Euro area from -26.3 to -23.9).
The monthly Indicator showed a recovery after the deep plunge of 2008-9, to achieve the long-term average, close to – 12.5, before falling again in mid-2011.
The confidence measure is based on survey data from 22 EU countries covering some 82.8% of total final consumption expenditure.
The “Euro area†describes the combined economic entities of the 17 countries using the Euro currency.
Reference
EC, Brussels, Business and Consumer Surveys, 30.1.13. http://ec.europa.eu/economy_finance/db_indicators/surveys/index_en.htm, (30.1.13).