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EUROZONE DATA: 1-Year Ahead Expectations Rise More Than Expected

EUROZONE DATA
Data BulletEurozoneBulletMarketsFixed Income BulletsForeign Exchange Bullets

The ECB's CES survey showed the 1-year ahead reading firmed a tenth to 2.5% Y/Y in October (vs 2.3% consensus, 2.4% prior), after printing the lowest reading since September 2021 last month. However, excluding September's reading it is still lower than any other month since September 2021. Meanwhile, the 3-years ahead expectation came in line with expectations remaining stable at 2.1% Y/Y - the lowest reading since February 2022 for the second successive month. 

  • Also of note, the mean expectation for economic growth over the year ahead deteriorated to -1.1% (vs -0.9% prior) in October. 

 

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The ECB's CES survey showed the 1-year ahead reading firmed a tenth to 2.5% Y/Y in October (vs 2.3% consensus, 2.4% prior), after printing the lowest reading since September 2021 last month. However, excluding September's reading it is still lower than any other month since September 2021. Meanwhile, the 3-years ahead expectation came in line with expectations remaining stable at 2.1% Y/Y - the lowest reading since February 2022 for the second successive month. 

  • Also of note, the mean expectation for economic growth over the year ahead deteriorated to -1.1% (vs -0.9% prior) in October.