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Africa and Global Economic Trends Quarterly Review - Third Quarter 2011


Growth in industrialized countries, particularly the euro zone, recorded a further slowdown over the summer, as reflected by Economic Commission’s economic sentiment indicator (ESI). This index, which measures confidence in manufacturing, services, construction, retail, and households, witnessed a sharp fall since the start of the year. In September, it continued its downward trend, dropping by 3.4 points to 95.0 in the euro area. This decline resulted from a broad-based deterioration in sentiment across most sectors, with losses in confidence being particularly marked in services, retail trade, and among consumers.

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