Press Release: September 2005: Economic sentiment continues to improve in both the EU and the euro area

The economic sentiment indicator (ESI) for the EU and euro area saw a remarkable increase over the summer of 2005, defying the uncertainty created by soaring oil prices and the devastating hurricanes in the Gulf of Mexico region. In the EU, the indicator rose by a total of 1.7 points during August and September, following an increase of 1.4 points in July 2005. In the euro area, the ESI improved by a compound 1.1 points in August/September. By end of September 2005 the indicator had risen for four months in a row, confirming that the weakening of the economy since autumn 2004 had come to a halt.

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