In November the Economic
Sentiment Indicator (ESI) increased by 0.8 points in the euro area (to 98.5)
and by 0.4 points in the EU (to 102.1).
While the upward trend observed since
May has been preserved, the improvement in confidence has noticeably decelerated
over the past two months, mirroring differences in developments across sectors.
In the euro area, the ESI's increase was driven by improved confidence in
services and industry. Confidence weakened among consumers and in construction
and remained broadly unchanged in retail trade.