Eurozone Economic Sentiment March 2017


Eurozone: Economic sentiment broadly stable in March

March 30, 2017

Economic sentiment in the Eurozone was broadly unchanged in March, according to the European Commission (EC). The economic sentiment index (ESI) inched down to 107.9 points from February’s multi-year high of 108.0. The result contrasted market analysts’ expectations of a rise to 108.3 points. Despite a number of ongoing political uncertainties, economic sentiment rests at a high level in the Euro area.

Looking at the sectors of the economy, economic sentiment was broadly flat in the manufacturing and construction sectors but fell among service providers. Consumer confidence strengthened amid more positive views regarding the future economic situation.

At a country level, sentiment improved in 10 countries including Germany, Greece and Portugal. In contrast, sentiment deteriorated in the remaining economies, including major-players France, Italy and Spain.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.5% in 2017, which is unchanged from last month’s projection. For 2018, panelists see consumption expanding 1.4%. Panelists expect investment to grow 2.5% in 2017, which is unchanged from last month’s forecast. In 2018, panelists see investment increasing 2.7%.

Author: Angela Bouzanis, Senior Economist

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Eurozone Economic Sentiment Chart

Euro Economic Sentiment March 2017

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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