The industry confidence indicator in the Euro Area fell to -9.3 in December 2019 from a revised -9.1 in the previous month and below market expectations of -9.0, as a deterioration of managers' appraisals of the stocks of finished products and the current level of overall order books offset their more optimistic production expectations. Also the assessments of export order books and the level of past production, which do not enter the calculation of the confidence indicator, worsened. Industrial Sentiment in the Euro Area averaged -5.17 from 1985 until 2019, reaching an all time high of 10.20 in January of 2018 and a record low of -37.70 in March of 2009. source: European Commission
Industrial Sentiment in Euro Area is expected to be -8.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Sentiment in Euro Area to stand at -6.00 in 12 months time. In the long-term, the Euro Area Industrial Sentiment is projected to trend around -4.00 in 2020, according to our econometric models.