European economic sentiment just smashed to a four and a half year high

The eurozone’s latest figures on economic and business confidence just rolled out for the month of October, and they’re looking surprisingly better than people expected in several areas.

Here’s what we’ve got:

  • Services sentiment: 11.9 (12 expected, 12.4 previous)
  • Industrial confidence: -2 (-2.8 expected, -2.2 previous)
  • Economic sentiment indicator: 105.9 (105.2 expected, 105.6 previous
  • Business climate: 0.44 (0.32 expected, 0.34 previous)

The economic sentiment indicator was particularly strong, hitting a four and a half year high.

The survey numbers are slightly different — for example, anything below 100 is positive on net for economic sentiment, while anything below is negative. For others, zero is the neutral number.

But in all cases, down is bad and up is good.

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