Eurozone, EU Economic Sentiment Slip Further as Confidence Drops

Source: Eurostat

Economic sentiment slipped further in both the eurozone and the European Union in March, dragged by the decline in consumer and industry confidence during the month. EZU is down 1.45%, while VGK is down 0.85% premarket.

• The Economic Sentiment Indicator in the EU dropped by 5.3 points to 107.5, and in the eurozone by 5.4 points to 108.5.
• The decline comes as industry confidence plunged to a 112-month low by 3.4 points, as managers’ assessments of current conditions eased.
• Consumer confidence also slipped by 9.4 points, indicating worse expectations of households on the prevailing general economic conditions.
• Retail trade confidence declined by 4.9 points, also due to weaker assessments of managers on their business situation expectations.
• Construction confidence fell by 0.1 points, due mainly to lower employment expectations, while financial services confidence fell by 11.8 points.
• Economic sentiment posted the biggest drops in France, Spain, Germany, Poland, and Italy.