Economic Sentiment Indicator Fell in September in the Euro Area and European Union

According to the European Commission's September business and consumer survey results, the economic sentiment indicator in the Euro Area and the EU fell below expectations, showing a decline.

General Decline in Index Data

The European Commission officially shared the business and consumer survey results for September with the public. According to the released data, the economic sentiment indicator across the EU decreased by 0.4 points on a monthly basis in September, falling to the 97.9 points level.

Euro Area Fell Short of Expectations

A similar downward trend was observed in the Euro Area, where the index decreased by 0.5 points in the same period down to 97.9 points. Market expectations were for the index in the Euro Area to come in at the 99 points level in September.

Weakening in Consumer Confidence

It was stated that the primary source of this decline in the economic sentiment indicator was the weakening in consumer confidence. In the Euro Area, the consumer confidence indicator fell from minus 15.5 to minus 16.5 in September.

Situation Across the European Union

The weakening in consumer confidence was not limited to the Euro Area alone but encompassed the entire European Union. Meanwhile, the consumer confidence indicator across the European Union declined from minus 15 to minus 15.8.