European Economic Situation Report – Sep 2016

  • Strong rebound from UK construction (19.2pts MoM)
  • Momentum for Euro Area ESI dips negative (YoY%) and composite suggests topping out
  • But ESI remains above near-term trend (post 2010) and trend is rising. Also a solid recovery post-Brexit considering negative sentiment just after ┬áit.
  • German construction at highest level on record at a mere 3pts (having spent 99.9% of its time in contraction)
  • Finland ESI composite crosses above 100 and posts solid monthly gains on industrial and consumer confidence sub indices

 

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