Croatia's economic sentiment rating improves in September

ESI is a composite index calculating confidence in five economic sectors. The largest month-on-month jump was registered in Croatia's industrial confidence, to 13.3 points, up by 5.2 from August report.

At the same time, ESI dropped in both the European Union, and in the euro zone. In September, ESI decreased in the euro zone by 0.7 points to 110.9, and in the EU by 0.9 points to total 111.3.

"The marginally worse outcome for the headline indicator for the EU (-0.9) resulted from a marked deterioration of sentiment in the two largest non-euro zone EU economies, the United Kingdom (-1.6) and Poland (-1.2). Changes at sector level were qualitatively in line with those in the euro area, except for improving confidence in the services sector," read the report.

The EC's report added that the drop in euro zone sentiment was due to lower confidence levels in the industrial sector and among consumers, which were only partially offset by increases in the retail trade and construction sectors.

ESI remained virtually unchanged in Germany (0.2 points down), Italy (0.2 points down) and the Netherlands (0.1 points up), while it decreased strongly in France (1.7 points down) and Spain (1.5 points down).

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