Small ray of hope, but no all-clear

The November data provides some hope: the economic index for the eurozone rises by 3.4 points to -18.6 points. Economic expectations in particular are surprising with an increase of 6.8 points. A similar trend can be seen for Germany. While the current assessment remains in recessionary territory, expectations are recovering even more dynamically. There are also small rays of hope in the international data. Economic expectations are rising almost everywhere, with the situation figures in the USA even showing an exclamation mark. Despite these glimmers of hope, the issue of stagnation is not yet off the table.

Full report November 2023

Headlines of the month

  • The sentix economic index for the Eurozone rises by 3.4 points to -18.6 points in November. The assessment of the current situation remains weak at -26.8 points, while economic expectations have surprisingly risen by 6.8 points to -10.0 points.
  • We measure a similar trend for Germany: the current assessment remains in recessionary territory at -37.8 points, while expectations are able to recover even more dynamically. The sub-index rose here by 8.3 points to -14.0 points.
  • There are also small rays of hope in the international data: economic expectations are recovering across almost the entire globe, with the current assessment in the USA attracting particular attention with an increase of 6.3 points. Despite these glimmers of hope, the all-clear cannot yet be given globally.

sentix Eco Report Euro area

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