Eurozone economic sentiment deteriorated in October according to data released by the European Commission on Wednesday; the same gloomy numbers are likely to be confirmed by Eurostat on Thursday.

The decline is driven by manufacturing. Sentiment in services was positive in September and October but remains at its lowest level since June 2015. Services account for two-thirds of the Eurozone economy.

As the Eurozone economy is slowing, the export-dependent German economy is under greater pressure while French €10bn government stimulus is helping push the economy forward. German economic sentiment fell for the second straight month and to its lowest level in more than six years.

Διαβάστε ακόμα