Euro Area Industrial Sentiment

The industry confidence indicator in the Euro Area worsened to -13 in October of 2024 from a revised -11 in the previous month, below market expectation of -10.5, to indicate the highest extent of pessimism in industry since the immediate fallout of the Russian invasion of Ukraine in July of 2022. Sentiment deteriorated for production expectations (0.2 vs 1.9 in September) and order books (-28.2 vs -25.6), which aligned with lower orders from foreign markets (-30.4 vs -26.9). On top of that, pessimism rose for employment expectations (-5.6 vs -4.7), and selling price expectations rose to a three-month high (6.5 vs 6.3).