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Euro zone sentiment slips in February as only services mood improves

Published 02/27/2018, 05:09 AM
Updated 02/27/2018, 05:10 AM
© Reuters. A Galeries Lafayette shopping bag is seen hanging on a tourist's travel bag in front of their their store in Paris

BRUSSELS (Reuters) - Euro zone sentiment fell as expected for the second month in a row in February from a multi-year high as confidence sapped from every sector except services, the European Commission said on Tuesday.

European Commission survey data showed economic sentiment in the euro zone eased in February to 114.1 points from a revised 114.9 in January, having hit a 17-year high of 115.3 in December.

The average expectation in a Reuters poll of 33 economists was a figure of 114.0.

The decline was the result of falling sentiment in industry, to 8.0 in February from 9.0 in January, in retail trade, to 4.3 from 5.2 and in construction, to 4.2 from 4.7.

The European Commission confirmed its flash estimate for consumer sentiment had also fallen, to 0.1 from 1.4 points.

Optimism only picked up in services, to 17.5 in February from 16.8 in January.

Separately, the Commission's business climate indicator, which points to the phase of the business cycle, slipped to 1.48 in February, from 1.56 in January, and in line with the market expectation of 1.47.

© Reuters. A Galeries Lafayette shopping bag is seen hanging on a tourist's travel bag in front of their their store in Paris

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