Eurozone Economic Sentiment


Eurozone: Eurozone sentiment eases in April

April 29, 2014

The Economic Sentiment Indicator (ESI) published by the European Commission inched down to 102.0 points in April, which was a slight deterioration over the 102.5 points recorded in March and contrasted market expectations that sentiment would rise to 103.0 points. That said, April’s print marked the fifth consecutive month in which the index remained above its 100-point long-term average.

All the categories measured deteriorated compared to the previous month, with the exception of consumer sentiment. At a country level, the largest decreases were seen in Malta (-2.6 points) and Belgium (-2.4 points). Sentiment deteriorated in three of the four major economies in the region, with the highest drop recorded in Spain (-1.0 points), followed by Germany (-0.4 points) and France (-0.3 points). Sentiment improved only in Italy (+0.5 points). Malta boasted the highest confidence level in the region in April with 108.1 points, followed by Germany, with 107.1 points.

FocusEconomics Consensus Forecast panelists see private consumption growing 0.6% in 2014, which is unchanged over last month’s projection. For 2015, panelists see consumption expanding 1.0%. Panelists expect investment to grow 1.5% in 2014, which is unchanged from last month’s forecast. In 2015, panelists see investment increasing 2.4%.

Author:, Head of Data Solutions

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Eurozone Economic Sentiment Chart

Euro Economic Sentiment April 2014

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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