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Eurozone economic sentiment weakens more than expected in September

Economic sentiment in the eurozone weakened more than expected in September, primarily due to a deterioration of confidence in industry, according to the European Commission's monthly business and consumer survey.

The economic sentiment indicator fell to 101.7 this month from 103.1 in August. The consensus estimate of economists polled by Econoday was for a reading of 102.6.

Industry confidence deteriorated further to minus 8.8 due to more pessimistic views on future production, current order books and finished products inventory.

The indicators for retail trade and construction edged down.

Consumer confidence improved, reflecting higher optimism regarding the future economic situation.