According to the final report from the European Commission, consumer confidence in the eurozone declined in April, reaching its lowest level since November 2023, driven by worsening perceptions across all four components
The consumer confidence index fell to -16.7 points compared to -14.5 points in March. The latest figure was in line with the preliminary estimate and economists' forecasts. Meanwhile, the economic sentiment indicator fell to 93.6 points from 95.0 points in March (revised from 95.2). Consensus estimates suggested a decline to 94.5. The employment expectations indicator remained at 96.5 points.
As for the EU countries, the economic sentiment indicator decreased by 1.4 points to 94.4 points, and the employment expectations indicator reached 96.9 points (-0.7 points). The decline of the economic sentiment indicator resulted from markedly lower confidence among consumers, in retail trade and, to a lesser extent, in services, while confidence in industry and construction remained broadly stable. Among the largest EU economies, the ESI deteriorated significantly in the Netherlands (-2.5) and Italy (-1.8), while it improved slightly in Germany (+0.5) and Spain (+0.4). The indicator remained broadly stable in France and Poland.
The data also showed that the indicator of economic uncertainty rose by 2.8 points in April, to 20.4 points. Managers’ uncertainty about their future business situation increased sharply in industry, hitting a 27-month high. The indicator also increased in services and retail trade, while remaining broadly stable in construction. Consumers’ uncertainty about their future financial situation also picked up strongly, to the highest level since February 2024.