ESI remains negative for Romania and Latvia

Romanian business leaders, MOST pessimistic in the EU

Newsroom 17/01/2014 | 11:57

Optimism is on the rise among European business leaders, except for their Romanian and Latvian peers.

The Directorate General for Economic and Financial Affairs (DG ECFIN) conducts regular harmonised surveys for different sectors of the economies in the European Union (EU) and in the applicant countries. They are addressed to representatives of the industry (manufacturing), the services, retail trade and construction sectors, as well as to consumers.

In December the Economic Sentiment Indicator (ESI) increased by 1.6 points in the euro area (to 100.0) and 1.4 points in the EU (to 103.5). Sentiment in the euro area is thus back to its long-term average for the first time since July 2011. In the EU, the average had already been passed in September.

ESI remained negative only for Romania and Latvia, with survey participants working in the fields of services, construction and retail showing the lowest expectations.

ESI indicator

ESI averaged at -0.1 in Latvia and -0.8 in Romania. Bulgaria (0.9), Lithuania (2.3 and Greece (4) are among the other more cautious nations. On the opposite end of the spectrum, Hungary (22.2), UK (18) and Portugal (14.2) are the most optimistic about their economic stability.

The only area where Romania remains cautiously optimistic is industry, where ESI averaged at a value of 3. Romanian business leaders remain pessimistic about retail (-6) and consumption in general (-3).