• Economic confidence 93.8 vs 93.7 expected
• Prior 93.3; revised to 93.5
• Industrial confidence -9.5 vs -8.9 expected
• Prior -9.3; revised to -9.2
• Services confidence 4.9 vs 4.3 expected
• Prior 4.5; revised to 4.6

Euro area economic sentiment picks up in November, with an improvement to services sector conditions offsetting the decline in manufacturing. The latter is still very much in recession territory but so far the good news is that the overall economy is holding up better than expected when compared to the outlook during the summer this year.

This article was written by Justin Low at www.forexlive.com.