The Euro Area Economic Sentiment Indicator, or ESI, rose 2.8 points from the previous month to 99.9 in January 2023, the highest level since June and well above market expectations of 97. Among the In the largest EA economies, the ESI increased notably in France (+4.4), Spain (+2.7), Germany (+2.5), Italy (+1.7) and, at to a lesser extent, the Netherlands (+0.5).
The industry confidence indicator increased 1.7 points from the previous month to 1.3 in January 2023, a second consecutive month of increase and easily exceeding market expectations of -0.6. Sentiment reached the highest level since August as business production expectations improved.
The services confidence gauge rose 3.0 points from the previous month to 10.7 in January 2023, the highest level since June last year and comfortably above the market consensus of 7.9. Sentiment improved notably due to more optimistic views from companies on all three components: past trade and demand situation; and demand expectations.
ETFs: (EWG), (GF), (EWI), (EWQ), (EWGS), (FGM), (DBGR), (DXGE), (HEWG), (DAX), (FLFR), (FLGR), (FLY)
Also read: ‘Euro zone consumer confidence at -19 in February, the highest in a year’
