Latest data released by Eurostat - 29 September 2020
- Economic confidence 91.1 vs 89.0 expected
- Prior 87.7; revised to 87.5
- Industrial confidence -11.1 vs -10.0 expected
- Prior -12.7; revised to -12.8
- Services confidence -11.1 vs -16.3 expected
- Prior -17.2
The prior month's release can be found here. The boost to economic confidence continues to hint at more optimism surrounding the euro area economic outlook, but it remains to be seen if such optimism can be justified considering recent virus developments.
The jump in the services confidence is certainly at odds with what PMI data suggests so there's that to consider when trying to account for the optimism above.
What's more concerning for the ECB is that consumer inflation expectations slumped to 12.5 in September from 16.9 in August. That certainly doesn't paint a pretty picture with regards to the inflation outlook ahead of the Eurozone print later in the week.
