Euro Area's CEIC Leading Indicator below the 100-mark for the first time since February
The CEIC Leading Indicator for the Euro Area fell below 100 in November for the first time since February 2021. It declined to 96.99 from 102.74 in October, posting its sixth decrease in a row, the main index shows. The smoothed indicator fell too, barely staying above the 100-threshold at 100.68.
The financial markets sentiment, measured by the key index Dow Jones Euro Stoxx, deteriorated in November, ending the month on negative note after a monthly growth in October. Inflation kept accelerating, with the Eurostat's flash estimate pointing to a 4.9% y/y consumer prices growth, an all-time high. Consumer confidence deteriorated too, as the sub-index measuring the expected financial situation over the next 12 months declined for the second month in a row, plunging into negative territory at -1.6% in November. Capacity utilisation declined, but the employment in the manufacturing, measured by the respective PMI index, stayed above the 50-mark, increasing slightly for the first time since July.
The CEIC Leading Indicator is a proprietary dataset designed by CEIC Insights to precede the development of major macroeconomic indicators and predict the turning points of the economic cycle for key markets.