Eurozone economic sentiment was stable in November, as improved confidence among consumers was offset by lower morale among manufacturers, but inflation expectations jumped in both sectors, according to the latest European Commission data.

The Commission cautioned however, that most of the data for the survey was collected before the Paris attacks of November 13.

The overall economic sentiment remained stable at 106.1 this month against upwardly revised October data, which had earlier been reported at 105.9. A Reuters poll forecast the eurozone economic sentiment at 105.9 points in November.

The Commission’s business climate indicator, which points to the phase of the business cycle, decreased more than expected to 0.36 in November from 0.44 in October. Forecasts pointed to an increase to 0.45.

Inflation expectations among consumers 12 months ahead jumped to 3.7 in November from 0.5 in October, in line with a rise in expectations in the manufacturing sector on selling prices to -0.7 from -2.3 in October.

But in the services sector, the largest part of the eurozone economy, inflation expectations fell to 4.1 from 4.8 in October.

The European Central Bank will announce monetary policy decisions on Thursday. Eurozone consumer prices in the 19 countries sharing the euro grew 0.1 per cent year-on-year in October.

The ECB wants to keep inflation below, but close to two per cent, over the medium term and started buying government bonds on the market in February to inject more cash into the economy and make prices rise faster.

The economic sentiment in the eurozone improved mostly in the construction sector rising to -17.8 from -20.7 in October. Consumer confidence also grew to -5.9 from -7.5. Services sentiment improved to 12.8 from 12.3 in October.

The indicator dropped instead in the industry from -2.0 to -3.2 in November, and in the retail sector from 6.4 to 5.8 in November.