Economic Buzz: Eurozone Economic Sentiment Falls In March

30 Mar 2022 , 03:59 PM

Eurozone economic sentiment fell to 108.5 in March from 113.9 a month ago, monthly survey results from the European Commission showed on Wednesday. The decline in the ESI in March was mostly due to plummeting consumer confidence, accompanied by marked losses in retail trade and industry confidence. The consumer confidence declined sharply to -18.7, in line with the flash estimate, from -8.8 in February. Reflecting the sharpest drop in managers production expectations since the COVID-19 pandemic, the industrial confidence dropped to a one-year low of 10.4 from 14.1 in February. After rising for two straight months, the services sentiment index came in at 14.4, up from 12.9 in the previous month and better than the expected level of 10.0.

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