The Economic Sentiment Indicator (ESI) in the Euro Area edged up to 95.5 in September 2025 from an upwardly revised 95.3 in August and slightly higher than market expectations of 95.2. Consumer sentiment improved slightly (-14.9 vs -15.5), as did confidence among constructors (-3.5 vs -3.6), while small declines were recorded in industry (-10.3 vs -10.2), services (3.6 vs 3.8), and retail (-7.7 vs -6.4). Among the largest economies, the ESI dipped in the Netherlands (-0.7 to 99.9) and Germany (-0.4 to 89.3), while it improved in Spain (+3.0 to 104.7), Italy (+0.7 to 99) and France (+0.3 to 93).
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