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.