Eurozone Economic Sentiment March 2016


Economic sentiment continues to fall, hits over-one-year low in March

Economic sentiment in the Eurozone continued to fall in March, pulled down by pessimism across most of the board. According to the European Commission (EC), the economic sentiment index (ESI) fell from a revised 103.9 in February (previously reported: 103.8) to 103.0 in March. The result also undershot the 103.8 market analysts had expected and marked the lowest level since February 2015.

Looking at the sectors of the economy, economic sentiment fell in industry, services and construction. Conversely, it rose in retail trade. Meanwhile, economic sentiment among consumers declined notably and hit a 15-month low.

At a country level, a decrease in economic sentiment was registered in almost half of the economies in the common-currency bloc. Notable drops in sentiment were tallied in Malta, the Netherlands and Slovenia. Among the major economies surveyed, sentiment deteriorated in France, Italy and Spain, while it was broadly unchanged in Germany.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.6% in 2016, which is unchanged from last month’s projection. For 2017, panelists also see consumption expanding 1.6%. Panelists expect investment to grow 2.2% in 2016, which is unchanged from last month’s forecast. In 2017, panelists see investment increasing 2.7%.

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Eurozone Economic Sentiment Chart

Euro Economic Sentiment March 2016 0

Note: The Economic Sentiment Indicator (ESI) is based on surveys addressed to the manufacturing, services, retail trade and construction sectors, as well as to consumers. Values above 100 indicate an above-average economic sentiment, whereas values below 100 indicate a below-average position.
Source: European Commission

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