Economic sentiment, consumer confidence drop in EU and euro area

ISTANBUL

The Economic Sentiment Indicator declined by 1.5 points to 96.7 in the EU and dropped by 1.6 points to 96.6 in the euro area during March, official figures showed on Monday.

The European Commission reported that the Employment Expectations Indicator also fell by 1.3 points to 97.3 in the EU and by 1.4 points to 96.4 in the euro area.

The marked deterioration of economic sentiment drove both indicators further away from their long-term average of 100.

The flash consumer confidence indicator plummeted by 3.4 points in the EU and by four points in the euro area compared to February.

Consumer confidence scores settled at minus 15.2 points in the EU and minus 16.3 points in the euro area.

The commission stated that consumer confidence scores marked their lowest levels since October 2023.