Wainwright Marks Management - Eurozone Economic Sentiment Dips
January 09, 2019 (PRLEAP.COM) Lifestyle NewsJanuary 9, 2019 - In December, for the 12th consecutive month, economic sentiment in the Eurozone fell significantly and by more than Wainwright Marks Management analysts had anticipated.
According to official data released by the European Commission, Eurozone sentiment declined every month in 2018 and Wainwright Marks Management analysts say this could be a strong indication of growing weakness in the Eurozone economy.
The dimming confidence could in part be attributed to a decline in industrial growth. In November, German industrial productivity declined for the third straight month prompting concerns that the European Union's largest economy could be on track for a recession.
Analysts at Wainwright Marks Management say the fall in sentiment from 109.5 in November to 107.3 in December last year did not bode well for the bloc's growth outlook in the final quarter of last year. Not only was this the 12th straight monthly decline in sentiment, it also brought the indicator to its lowest level since January 2017.
Wainwright Marks Management analysts had predicted a drop to 108.2 but stated that a noticeable decrease in confidence among factory managers likely exacerbated the situation.
Sentiment in the industry sector dropped to 1.1 points in December, down from 3.4 the month before and was also a bigger decline that Wainwright Marks Management analysts had anticipated.
Consumer confidence also dropped dramatically from -6.2 to -3.2 in November but Wainwright Marks Management analysts say this did not stop consumers from upping their shopping with strong growth in retail sales in November according to official estimates.