The European
Commission (EC) reported on Tuesday its flash estimate revealed the consumer
confidence indicator for the euro area declined 2.2 percentage points to -16.7 in April from an unrevised -14.5 in the previous month. That marked the second straight decrease
in the index and represented the lowest reading since November 2023
(-16.9).
Economists
had anticipated the index to fall to
-15.0 early this month.
Considering the
European Union (EU) as a whole, the consumer sentiment indicator dropped 2.1 percentage points to -16.0 in April, hitting its lowest level in 18 months.
Given this month’s decreases, both
indicators moved further away from their long-term averages.