Economic sentiment in both the European Union and euro area crept slightly higher in November, according to a survey published by the European Commission, although employment expectations weakened. Increased confidence in industry and the retail trade was largely offset by lower confidence in services and among consumers, the EC said. Among the larger economies, France, Spain and the Netherlands recorded the strongest improvements in sentiment, while Germany showed a marked decline.
Carsten Brzeski, global head of macro at ING, said a mix of economic data Thursday was 'comforting the hawks' at the European Central Bank, referring to policymakers who favor a cautious approach to interest rate cuts.
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