Economic confidence improves in Spain, while it falls in the eurozone and the EU

Madrid – The economic sentiment indicator (ESI) of Spain ended 2024 at its highest level since last September, after two consecutive monthly improvements, reaching 102.9 points, compared to 102 in November, which contrasts with the widespread deterioration in the eurozone and the EU as a whole, according to the European Commission.

Among the Twenty-Seven, the ESI fell in December to 94.5 points, compared to 96.2 the previous month, while for the eurozone it stood at 93.7 points, below 95.6 the previous month, representing, respectively, the worst reading since November and September 2023.

Brussels attributes this increased economic pessimism to lower confidence in industry, construction, and among consumers, which was only partially offset by increased confidence in the services sector, while in retail trade it remained generally stable.

Among the largest economies in the EU, the ESI declined significantly in France (-3.0), Germany (-2.5), and Italy (-1.1) and decreased by 0.2 points in the Netherlands, while it improved by nine-tenths in Spain and one-tenth in Poland.

Meanwhile, the EU’s employment expectations indicator recorded a new decline in December to stand at 98.4 points, compared to 99.4 in November, while the eurozone’s figure worsened to 97.3 from 98.7 points, in both cases the worst reading since February 2021.

In Spain’s case, the employment expectations indicator stood at 105.5 points in December, compared to 107.2 in November, its lowest level since September last year. (January 8)