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Financial News: Eurozone Economic Sentiment Weakens More Than Expected

Eurozone Economic Sentiment Weakens More Than Expected

04/29/2019 - 05:32:00 (RTTNews)

(RTTNews) - Eurozone economic sentiment weakened for a tenth straight month in April and at a faster-than-expected pace, amid sharp deterioration in the morale in industry, survey data from the European Commission showed on Monday.

The economic sentiment index decreased to 104 from 105.6 in March. Economists had expected a score of 105.

The industrial confidence index eased sharply to -4.1 from -1.6, while the services measure was steady at 11.5. Economists had forecast readings of -1.7 and 11.5, respectively.

The consumer confidence index fell to -7.9 from -7.2, in line with its flash estimate.

Sentiment eroded in both construction and retail trade sectors. Separately, the European Commission reported that the business climate indicator for the euro area decreased for a second month in April to 0.42 from to 0.54 in March. Economists had expected a score of 0.49.

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