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Eurozone economic sentiment indicator ticks up in December 2019

Economic sentiment in the eurozone was broadly stable in December 2019 as increased confidence in services, construction and retail trade sectors were stemmed by a decline in the consumer outlook, data from the European Commission showed.

The EC's economic sentiment indicator ticked up to 101.5 in the month from a revised 101.2 in November 2019. The consensus estimate of economists polled by Econoday was for a reading of 101.4.

The services confidence indicator improved to 11.4 from 9.2 in the previous month, while the construction confidence index rose to 5.0 from 2.8. The gauge for retail trade sentiment came out of negative territory, climbing to 0.8 from minus 0.2.

Meanwhile, the consumer confidence index fell further to negative 8.1 from negative 7.2 as expectations regarding households' financial conditions and the general economic situation worsened.

The industry sentiment indicator shed 0.2 point to negative 9.3, remaining broadly stable.