The economic sentiment indicator (ESI) fell significantly in both the EU (-5.3 points to 107.5) and the euro area (-5.4 points to 108.5) due to plunging consumer confidence.
- The Employment Expectations Indicator (EEI) also eased to 114.9 in the EU and dropped to 115.5 in the euro area.
- In the EU, the economic sentiment fell in March due to the decreasing consumer confidence resulting from losses also in the retail industry and industry confidence.
- France and Spain led other EU economies with the largest fall in ESI, followed by Poland (-3.0) and Italy (-2.6), as it improved slightly in the Netherlands (+0.5).
- The employment expectations indicator dropped by -1.1 percentage points due to worsening employment plans in the industry, retail trade, and construction.
The EU’s economic uncertainty indicator jumped significantly in March (+10.7 points to 25.8), attributable to growing uncertainty about the impact of Russia’s invasion of Ukraine.
Euro Stoxx 50 up +0.89%, EURUSD down -0.07%
Source: European Commission