Latest data released by Eurostat - 30 October 2019
- Prior -6.5
- Economic confidence 100.8 vs 101.1 expected
- Business climate indicator -0.19 vs -0.24 expected
- Industrial confidence -9.5 vs -8.8 expected
- Services confidence 9.0 vs 9.2 expected
Sentiment continues to worsen in the euro area as economic confidence falls to its weakest level since January 2015. Industrial confidence remains weak but it is becoming more evident now that the doom and gloom is starting to spread to services confidence as well.
That doesn't bode well for the economic outlook as we look towards Q4 and next year, and it will continue to be a factor holding back the euro currency from posting sustained gains as long as sentiment continues down this path.