Economic confidence across the European Union and euro area weakened for a second month in October, while employment expectations improved, according to the European Commission's latest survey.
The Economic Sentiment Indicator (ESI) registered 96.9 in both areas, a 0.6-point decline from September. The survey gauge combines responses from consumers and managers in industry, services, retail trade and construction. Its 2000-2025 average is 100.
EU confidence fell among consumers and in services, retail trade and construction: consumer confidence dropped 1.2 points, services fell 0.7 points, retail trade 1.7 points and construction 0.9 points. Industry confidence increased 0.3 points. Euro-area consumer confidence fell 1.1 points.
Hiring expectations moved higher. The EU employment expectations indicator rose 0.6 points to 98.9; the euro-area measure gained 0.7 points to 98.2. In the EU, hiring plans strengthened in retail and industry but weakened in services and, more sharply, construction.
The EU Economic Uncertainty Indicator climbed 1.7 points to 19.8. EU consumers' uncertainty about their financial outlook reached its highest level since April 2025. The euro-area uncertainty reading was 20.6.
The Commission adjusted September's results after refreshing French business survey responses and restoring Italian consumer responses to the European aggregates. It also flagged a break in the Italian consumer series between August and September.
The Commission's next scheduled release is a flash consumer confidence reading on Nov. 20. Full business and consumer survey results, including the ESI, are due Nov. 27.
