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.