Berlin - European economic sentiment slumped to an historic low in November, a key indicator released Thursday showed, amid signs that the slowdown in the global economy is gaining momentum.
The European Commission's closely watched economic sentiment indicator for the 15-member eurozone fell more-than-forecast by 5.1 points to 74.9 in November from
80.4 in October.
The indicator now stands at its lowest level since August 1993.
Its release follows the commission's announcement Wednesday of a 200-billion-euro (259-billion-dollar) stimulus package aimed at helping the European economy to limp through the current economic downturn which has been triggered by the world's financial crisis.