Economic sentiment has improved in Europe in September following a small drop in August. The mood has is up 1.6 points in the EU and 1 point in the euro area, according to the Economic Sentiment Indicator.
The ESI, a monthly indicator that tracks the general economic activity in the EU, showed that overall economic sentiment in the EU and the euro area has remained on an upward trend since mid-2005. The report showed that all sectors, except the services sector, contributed to the rise of the ESI in the EU.
The industry sector experienced the highest increase of 3 points, while the service sector has the lowest result as it fell by 2 points from August. According to the report, confidence among consumers remained unchanged
A majority of the large Member States reported an increase in industrial confidence. UK went up 6 points, Spain 5 points and Germany 3 points. French confidence, however, remained unchanged in September.