Technical Analysis

Eurozone November final consumer confidence -23.9 vs -23.9 prelim

  • Economic confidence 93.7 vs 93.5 expected
  • Prior 92.5; revised to 92.7
  • Industrial confidence -2.0 vs -0.5 expected
  • Prior -1.2
  • Services confidence 2.3 vs 2.0 expected
  • Prior 1.8; revised to 2.1

That’s a slight improvement in euro area economic sentiment, which is a welcome development ahead of the winter. Slowing inflation pressures have certainly helped and if we do observe milder weather in the coming months, it will help with the optimism. That said, even with all of this, the outlook remains challenging with recession risks continuing to build.

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