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 it.
- 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