advertisement
Thu, Feb 09 2012
Economic sentiment in EU, euro zone improves further
Photo: Nadezhda Chipeva
Economic activity in industry in the euro zone should continue to recover in the coming months, although it still has some way to go to reach its pre-crisis level, according to an August 30 2010 media statement by the European Commission on the month’s Business Climate Indicator.
Managers in industry were more optimistic about their order books; in particular they were upbeat about their export order books.
Managers' assessment of production observed in recent months and production and employment expectations remained unchanged. Meanwhile, managers' assessment of their stocks of finished products worsened slightly.
After the surge in July, the Economic Sentiment Indicator (ESI) continued to improve in both the EU and the euro area, albeit at a slower pace.
The ESI rose to 102.7 (up by 0.6 of a point) in the EU and to 101.8 (up by 0.7 of a point) in the euro area. In both the EU and the euro area the ESI is above its long-term average.
Among the largest EU member states, the UK registered the most significant gain (+1.5), followed by Germany (+1.1) which remains in the lead.
Improvements were less pronounced in Spain (+0.9) and in France (+0.4).
In contrast, sentiment deteriorated in Italy (-0.9), Poland (-0.9) and even more so in the Netherlands (-2.1).
Sentiment in industry improved (by one point) in the EU and remained broadly unchanged in the euro zone.
Most respondents in this sector reported sizeable improvements in their order books. However, managers were cautious regarding their production expectations.
As indicated in the flash estimate released earlier, confidence among consumers improved markedly (+3) in both EU and euro area.
Widely-felt optimism about the general economic situation as well as further considerable easing of unemployment fears set the tone.
The confidence indicator in services decreased by one point in the EU and improved by one point in the euro area.
Managers' pessimistic assessment of the past business situation in the UK explains the difference in trends between the two areas, a media statement said.
Sentiment in the retail sector gained one point in the EU and remained broadly unchanged in the euro area. Sentiment indicator in construction remained broadly unchanged in both regions.
After a sharp drop in July, confidence in financial services – not included in the ESI – registered a significant increase in the EU (+7) due to a substantially brighter future demand outlook.
In the euro area the confidence indicator remained broadly unchanged, after having improved in July.
Managers in industry were more optimistic about their order books; in particular they were upbeat about their export order books.
Managers' assessment of production observed in recent months and production and employment expectations remained unchanged. Meanwhile, managers' assessment of their stocks of finished products worsened slightly.
After the surge in July, the Economic Sentiment Indicator (ESI) continued to improve in both the EU and the euro area, albeit at a slower pace.
The ESI rose to 102.7 (up by 0.6 of a point) in the EU and to 101.8 (up by 0.7 of a point) in the euro area. In both the EU and the euro area the ESI is above its long-term average.
Among the largest EU member states, the UK registered the most significant gain (+1.5), followed by Germany (+1.1) which remains in the lead.
Improvements were less pronounced in Spain (+0.9) and in France (+0.4).
In contrast, sentiment deteriorated in Italy (-0.9), Poland (-0.9) and even more so in the Netherlands (-2.1).
Sentiment in industry improved (by one point) in the EU and remained broadly unchanged in the euro zone.
Most respondents in this sector reported sizeable improvements in their order books. However, managers were cautious regarding their production expectations.
As indicated in the flash estimate released earlier, confidence among consumers improved markedly (+3) in both EU and euro area.
Widely-felt optimism about the general economic situation as well as further considerable easing of unemployment fears set the tone.
The confidence indicator in services decreased by one point in the EU and improved by one point in the euro area.
Managers' pessimistic assessment of the past business situation in the UK explains the difference in trends between the two areas, a media statement said.
Sentiment in the retail sector gained one point in the EU and remained broadly unchanged in the euro area. Sentiment indicator in construction remained broadly unchanged in both regions.
After a sharp drop in July, confidence in financial services – not included in the ESI – registered a significant increase in the EU (+7) due to a substantially brighter future demand outlook.
In the euro area the confidence indicator remained broadly unchanged, after having improved in July.
-
Print
-
Send via email
- Translate to
-
Share:
To post comments, please, Login or Register.
Please read the The Sofia Echo forum comments policy.
Euro zone business climate, economic sentiment gained further in December 2010
The level of the business climate indicator in the euro zone is approaching its historical peak reached in spring 2007, suggesting that the recovery in industry will continue in the coming months, according to the European Commission’s Economic and Financial Affairs directorate.
Bulgarian traders discontented with 2010 results
Retailers planning notable network expansion include traders in shoes and leather accessories, followed by cafe and restaurant operators and food chains.
EU economic, business indicators improve again
Managers in industry were more optimistic about their production and employment expectations as well as the level of their order books; in particular they were upbeat about their export order books.
Crisis stifles economic freedom in Bulgaria – IME
'Over the past three to four years, Bulgaria has slowed down the pace and policies implemented in response to the crisis in 2009 and 2010 have already robbed us of our economic freedom,' the IME's Petar Ganev says.
Euro zone unemployment unchanged at 10 per cent in July
Among EU member states, the lowest unemployment was in in Austria (3.8 per cent) and the Netherlands (4.4 per cent in June 2010), and the highest in Spain (20.3 per cent), Latvia (20.1 per cent in the first quarter of 2010) and Estonia (18.6 per cent in the second quarter of 2010).
EU, euro zone business and economic sentiment indicators improve
July 2010 saw the euro area Business Climate Indicator improve after a ‘pause’ in June, while the Economic Sentiment Indicator went up in the EU and the euro zone, strongly influenced by markedly positive readings in Germany.
June 2010 euro zone business, economic sentiment indicators unchanged
The current level of the euro zone business climate indicator suggests that the recovery of economic activity in industry will continue in the coming months, although it may lose momentum, the European Commission says.
Euro zone business sentiment improves slightly
May 2010 saw the business climate indicator for the 16-member euro area improve slightly, but it remains well below pre-crisis levels, Eurostat says. The EU stats office also issued a flash estimate that euro zone annual inflation was 1.6 per cent in May.
EU economic, business sentiment indicators ‘improving’ – poll
A new Eurostat poll shows upswings in economic and business sentiment indicators in the EU – with Italy and Spain among the countries where sentiment was more confident in April 2010.
More in this category
Murky digital future
The switch to digital television broadcasting in Bulgaria cannot progress before a transition plan is approved
Tight circle
Bulgarian Government doing its best to drive strategic investors away from BDZ Cargo privatisation
Bulgarian telecom firm offers compensation after network disruption
Services at several banks in Bulgaria were disrupted because of the network disruption which lasted several hours on February 6 2012.
Malév airline grounds all flights after running out of cash
Some passengers entitled to rerouting, the Hungarian airline says, announcing a shutdown after 66 years of operations.
Road less travelled
As debate in Bulgaria heats up on the issue of shale gas exploration, a view against fracking from an environmental campaigner.
Appointments
British Council
Lyubov Kostova was appointed country manager of British Council Bulgaria effective January 1, replacing Tony Buckby, who left in October 2011 to take a similar position at British Council Greece. Kostova has been with British Council Bulgaria for 11 years, as public communications manager and, since 2008, as the head of project and partnerships department. Prior to joining the British Council, Kostova was head of international activities at the National Academy for Theatre and Cinema Arts (NATFIZ). She has a degree in Indian studies from Kliment Ohridski Sofia University.
CEZ
Stefan Apostolov is the new chief executive of CEZ Razpredelenie Bulgaria, the power transmission subsidiary of Czech energy company CEZ in the country. He replaces interim chief executive Ales Damm, who remains the chairperson of the CEZ Razpredelenie management board. Apostolov has 30 years of experience in the energy sector, joining CEZ in 2007 as director of customer service and was later appointed as head of business development. Apostolov has a master's degree in electric systems from the Belorussian National Technical University in Minsc, management diplomas from Open University London and New Bulgarian University, as well as a master's degree in business administration from Plovdiv University.
BASF Bulgaria
Valentina Dikanska is the new general manager of chemical industry giant BASF subsidiary in Bulgaria, taking over from Herbert Fisch, BASF vice president for Southeastern Europe. Dikanska, who started her career as an expert in the Finance Ministry, joined BASF Bulgaria as director of finance and administration in 2002. She becomes the first Bulgarian to hold the top management position in the company in its 40-year history on the Bulgarian market. Dikanska holds a master's degree in economics from the University for National and World Economy in Sofia.
Rompetrol Bulgaria
Alexander Albin has been appointed chief executive of fuel distributor Rompetrol Bulgaria, replacing Nichita Sorin, who left to become chief executive of Rompetrol Gaz in Romania. Albin was previously chief executive of Rompetrol Georgia. He has more than 15 years of experience in the oil and gas industry; prior to joining Romania's oil group Rompetrol in 2008 as an adviser, he oversaw operations at Atyrau refinery in Kazakhstan, owned by Rompetrol's parent company KazMunaiGaz. He previously held top management positions at two other leading Kazakh oil and gas companies.
© 2000-2012, Sofia Echo Media Ltd.
Web Design by RIZN
Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted.
Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only
with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site.
Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com.
Sofia Echo Media cannot be held responsible for the statements contained in visitor comments.
The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the
price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes,
and should not be used as a basis for decisions about buying or selling stock options.
- Economedia Group portfolio:
- In Bulgarian:
-
Business:
Капитал,
Кариери,
Пазари,
Ho Re Mag,
Регал,
Градът.bg,
Одит,
Foton.bg,
Online shop
- News: Дневник, Европа, Foreign Policy - България
- IT: IDG.BG, Computerworld, PC World, CIO, Networkworld
- Entertainment: Бакхус
-
In English:
The Sofia Echo