Economic Sentiment Worsens in The Eurozone.
London, 29 April 2024
The severe decline in manufacturer confidence, which hit a record low of -10.5 points in April 2024 (compared to -8.9 points in March), caused the Euro Area's economic sentiment indicator to fall by 0.6 points to 95.6 in April 2024, below market forecasts of 96.9.
The News
Additionally, service providers' (6.0 vs. 6.4), retailers' (-6.8 vs. -6.0), and builders' (-6.0 vs. -5.6) morale has declined. However, customer sentiment did marginally increase (-14.7 vs -14.9). Regarding prices, the measure of manufacturer selling price expectations dropped by 0.1 point to 5.4, while the consumer inflation expectations index dropped by 0.7 points to 11.6.
Of the bloc's biggest economies, the ESI improved noticeably in Spain (+2.3) and Germany (+1.5), and somewhat in the Netherlands (+0.3), but it declined dramatically in France (-4.8) and more moderately in Italy (-1.3).
Stats
Index of Economic Optimism dropped from 96.20 points in March 2024 to 95.60 points in April in the Euro Area. Between 1985 and 2024, the Euro Area's Economic Optimism Index averaged 99.81 points. It peaked in October 2021 at 119.50 points and fell to a record low of 58.70 points in April 2020. This website offers real figures, historical data, forecasts, charts, statistics, economic calendars, and news for the Euro Area Economic Sentiment Indicator. The data, history chart, estimates, and publication calendar for the Euro Area Economic Sentiment Indicator were last updated in April 2024.
Forecast
Index of Economic Optimism dropped from 96.20 points in March 2024 to 95.60 points in April in the Euro Area. Trading Economics global macro models and analysts predict that by the conclusion of this quarter, the Economic Optimism Index in the Euro Area will be 96.50 points. Trading Economics models predict that in 2025, the Euro Area Economic Sentiment Indicator will trend around 101.00 points. (Source: Trading Economics)