Economic Sentiment Indicators have declined by 0.8 points in the EU and by 0.5 points in the euro area according to the European Commission’s latest business and consumer survey results for December 2011.

Sentiment declined from 92.8 to 92.0 points in the EU, and for the euro area confidence declined from 93.8 to 93.3 points. Poland reported the biggest decrease in sentiment with figures falling from 93.5 to 88.5 points and Italy witnessed a fall of 4.6 points from 90.1 to 85.5.

Furthermore, Spain experienced sentiment falls from 91.0 to 89.7 points and the UK’s confidence fell by 0.5. Improvements in sentiment were seen in the Netherlands (+0.8) and Germany (+1.0).

Confidence among consumers in the EU declined from -20.7 to -21.9 and in the euro area consumer confidence fell from -20.4 to -21.1. This was due to concerns over financial saving in the current volatile economic climate.

Statistics also revealed that confidence in financial services in the EU fell from -4.7 points to -7.2 and in the euro area figures declined from -10.9 to -15.8.

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