Economic sentiment in both the eurozone and the European Union declined further in April, dragged by lower consumer confidence during the period.
Source: European Commission
EZU is up 0.32%, while VGK is down 1.51% premarket.
The Economic Sentiment Indicator in both areas declined from the previous month by 1.7 points to 104.9 in the European Union and by 1.7 points to 105.0 in the euro area. This was attributed to lower confidence.
Industry confidence fell by 0.8 points, while services confidence was flat. Consumer confidence posted a bigger decline by 1.0 points due to lower assessments of the financial situation and intent to make major purchases.
Retail trade confidence slipped by 2.0 points due to lower assessments of managers, while construction confidence dropped by 1.8 points as employment expectations fell by 1.0 amid weaker plans for the coming three months.
The financial services confidence climbed by 1.8 points, driven mainly by a boost in the managers’ demand expectations, while selling price expectations for the next three months recorded historical growth.
The Economic Uncertainty Indicator fell by 0.5 points to 25.3.