London, Monday, 2 May 2022
The Euro Area's economic sentiment indicator (ESI) declined for the second month in a row to 105 in April 2022, the lowest reading since March 2021 and well below market expectations of 108, as the conflict in Ukraine and rising commodity prices harmed confidence in all sectors.
Industry (7.9 vs. 9) and retail trade (-4.3 vs. 2.4), construction (7.1 vs. 8.9), services (13.5 vs. 13.6), and consumer sentiment all fell (-22 vs -21.6).
The ESI declined sharply in Spain (100.2 vs 104.7) and to a lesser extent in France (102.8 vs 104.2) among the largest EU economies, but stayed largely unchanged in Germany (107.1 vs 107.2) and improved in Italy (109.1 vs 107.5).
(Source: European Commission // Edited by: The Decision Maker)