Eurozone economic sentiment weakens in September

(Sharecast News) - Eurozone economic sentiment deteriorated in September, marking the first decline in five months, according to figures from the European Commission on Tuesday.

The Commission's Economic Sentiment Indicator (ESI) fell by 0.5 points to 97.9, moving further below its long-term average of 100. The indicator had been trending higher since May.

"The decline in the ESI resulted from lower confidence reported by consumers, despite higher confidence in industry and, to a smaller degree, construction. Confidence in services and retail trade remained broadly stable," the report said.

Employment expectations fell more sharply, with the Employment Expectations Indicator (EEI) dropping by 1.3 points to 97.5, also below its long-term average of 100.

The Commission noted that September's eurozone figures did not include results from Italy's consumer survey because of a structural break in the series. Publication of the Italian consumer data is expected to resume in October.