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 In November the Economic Sentiment Indicator (ESI) increased by 0.8 points in the euro area (to 98.5) and by 0.4 points in the EU (to 102.1).

While the upward trend observed since May has been preserved, the improvement in confidence has noticeably decelerated over the past two months, mirroring differences in developments across sectors. In the euro area, the ESI's increase was driven by improved confidence in services and industry. Confidence weakened among consumers and in construction and remained broadly unchanged in retail trade.

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