Confidence among the eurozone’s consumers and businesses dropped in April attributable to rising inflation and Russia’s invasion of Ukraine.
- The European Commission stated that its economic sentiment indicator fell to 105.0 in April from 106.7 in March. Analysts of Economists had expected the index to stand at 108.0.
- The decline was largely attributable to worsening confidence in retail trade, construction, and industry, as the confidence indicator remained largely unchanged in services.
- Sentiment also dropped in Spain and France. Confidence remained fairly stable in Germany while it improved in Italy.
- The employment expectations indicator declined further in April due to worsening employment plans for the next three months in four business sectors.
The economic uncertainty indicator decreased slightly in April, -0.5 points to 25.3. Even though uncertainty continued to rise in construction, it remained fairly stable in retail trade and among consumers.
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