The Economic Sentiment Indicator (ESI) in the Euro Area rose to 96.8 in October 2025, the highest since April 2023, compared to 95.6 in September and forecasts of 95.7. Consumer sentiment improved slightly (-14.2 vs -14.9), as did confidence among constructors (-2.9 vs -3.4), industrials (-8.2 vs -10.1), service providers (4 vs 3.7), and retailers (-6.8 vs -7.7). Among the largest EU economies, the ESI improved noticeably in France (+2.5 to 92.9), Italy (+1.4 to 100.5) and Germany (+1.0 to 91.5), while it remained broadly stable in the Netherlands (+0.3 to 100.2), and decreased in Spain (-0.9 to 103.9).