Euro area Consumer Confidence Index edges down to -7.2 as expected

According to the latest Business and Consumer Surveys published by the European Commission, the Consumer Confidence Index in the euro area and the EU edged down to -7.2 and -7.1, respectively, to match analysts' expectations.

Key takeaways from the press release

• In March 2019, the Economic Sentiment Indicator (ESI) decreased slightly in both the euro area (by 0.7 points to 105.5) and the EU (by 0.4 points to 105.0).
  • The marked decrease in industry confidence (−1.3) resulted from managers' more pessimistic views on all three components, i.e. production expectations, the current level of overall order books and the stocks of finished products.
  • The decline in services confidence (−0.8) was driven by managers' significantly more pessimistic views on past and expected demand, while their assessment of the  last business situation held up.
• In March 2019, the Business Climate Indicator (BCI) for the euro area decreased (by 0.16 points to +0.69).