Consumer Confidence Flat In Europe

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BRUSSELS (UPI) — The European Commission said Thursday economic confidence was flat in the European Union and in the eurozone in April.

Revising figures released in a previous “flash estimate,” the Economic Sentiment Indicator for the EU in April now stands at 93.2, unchanged from the previous month, the commission said.

For the eurozone, the 17-nation regions that shares the euro as currency, the index fell by 1.7 points to 92.8.

In the eurozone, confidence in the industrial and service sectors weakened, while confidence improved for the retail sector.

In both regions, the index “remains well below its long term average,” the report said.

The index assigns the 1990-2009 average a numerical value of 100. Below 100 indicates confidence has fallen below that 20-year average.

Among the seven largest economies in Europe, confidence fell sharpest in Italy (down 5.7 points), Poland (down 2.3 points) and Spain (down 1.8 points).

The index improved in the Netherlands (up 1.2 points) and in Britain, where the index jumped 4.2 points.

Only Germany maintains a confidence level higher than its long-term average. In Germany, the index fell 1 point in April, the report said.

 

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