Eurozone Economic Confidence Eases To 3-Month Low
(RTTNews) - Eurozone economic confidence weakened unexpectedly in March to a three-month low reflecting lower confidence in services, retail trade and among consumers, survey data from the European Commission revealed Friday.
The economic sentiment index registered 95.2 in March, down from 96.3 in February. The score was forecast to rise to 97.0. Moreover, this was the lowest score since December.
At -10.6, the industrial confidence index rose to a six-month high from -11.0 in February. The expected reading was -10.5.
On the other hand, services confidence weakened notably in March. The corresponding index fell to 2.4 from 5.1 a month ago. The reading was forecast to climb to -10.5.
The consumer confidence index fell to -14.5 from -13.6 a month ago. The score matched the preliminary estimate.
Confidence among retailers deteriorated in March. The index posted -6.8 compared to -5.1 in the previous month.
Confidence among contractors remained broadly unchanged, with the index falling to -3.4 from -3.3.
The Employment Expectations Indicator fell further to 96.7 in March and remained below its long-term average, reflecting deterioration in employment plans mainly in retail trade.
At the same time, the European Commission's Economic Uncertainty Indicator slid to 17.4 from 18.2 in February. Consumers' uncertainty about their future financial situation improved noticeably in March.
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