Special Report:Global Financial Crisis
BRUSSELS, Jan. 29 (Chinese media) -- The economic sentiment indicator (ESI) for the E
The ESI declined by 1.5 points in the 16-nation euro zone in January to 68.9 points and by 3.3 points to 64.9 in the 27-nation EU, the lowest level in both regions since the survey started in January 1985.
Global Job Cuts 
，Starbucks to cut 6,700 jobs
，SAP to cut 3,000 jobs
，Intel to cut up to 6,000 jobs
，Caterpillar to cut 20,000 jobs
，Warner Bros. to cut 800 jobs
， Ericsson to cut 5,000 jobs
， Sony to cut 8,000 jobs
， Valeo to cut 5,000 jobs
， Chanel to cut 200 jobs
， Volvo Cars to cut 3,400 jobs
， Credit Suisse to cut 5,300 jobs
， Rolls-Royce to cut 2,000 jobs
， Indonesia to cut 40,000 jobs
，UK finance sector to cut 15,000 jobs
，India IT industry to cut 50,000 jobs
， South Korea to cut jobs in public sector
The drop was much less than in the last three months of 2008, said the Commission, the executive arm of the EU.
"The fall in the ESI for both the EU and the euro area is attributed to a general decline in confidence in all sectors, except for the retail trade sector which remained unchanged," said the Commission. Companies expect more jobs to be cut this year as demand shrinks.
Services, which declined most among all the five sectors, slipped by 4.9 points in the EU and by 4.8 in the euro area, while construction fell by 4.0 and 3.3, respectively.
Confidence declined drastically in Poland (-8.6 points), Britain (-7.4) and Germany (3.1), said the Commission.
According to the Commission, the industrial confidence indicator dropped by 1.8 points in the EU and by 0.4 in the euro area, both to minus 34 points, while consumer sentiment dropped by2.3 points in the EU and by 0.8 in the euro area, both to minus 31.
Financial services managers' assessment of their business situation worsened further and they also expect the demand for their services to deteriorate substantially in the coming months.
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