Economic confidence index declined in the European Union and the Euro Area

According to the results of the October business and consumer survey released by the European Commission, the economic confidence index declined by 0.6 points in the EU and the Euro Area to 96.9 points. Consequently, economic confidence recorded a decline for the second consecutive month in both regions.

Data for October published by the European Commission (EC) revealed that economic confidence weakened across all sectors except industry. With the announcement, the economic confidence index for September was also revised to 97.5 points for both regions.

Parallel to the decline in the index, a decrease was also observed in the consumer confidence index. Consumer confidence in the Euro Area dropped from minus 16.8 in September to minus 17.9, while in the EU it fell from minus 16.1 to minus 17.3.