EU and Euro Area Employment Expectations Rise the Highest in Almost 4Yrs in Nov.

Source: European Commission

The Employment Expectations Indicator rose by 1.4 points in the EU and 1.7 points in the euro area to 115.6 in both regions. The indicator is the highest since January 2018. DAX is up +0.79%, EURUSD is down -0.35%.

• The rise in employment expectations happened even as the Economic Sentiment Indicator fell by 1.1 points in both regions. The indicator is now at 116.5 in the EU and slightly higher at 117.5 in the euro area.
• The decline in ESI reflected falling consumer confidence, although the outlook improved in retail trade and construction. The outlook remained the same in industry and services.
• ESI rose the highest in France by 3 points, followed by Italy and Poland. It worsened the highest by 2.6 points in Spain, followed by the Netherlands and Germany.
• Selling price expectations rose to record highs, although consumer prices were projected to remain relatively stable.
• The Economic Uncertainty Indicator ticked higher by 1.6 points to 15.8 on rising supply bottlenecks, Covid-19 infections, and reintroduction of fresh restrictions.