Euro Area: Economic sentiment worsens in March
Latest reading: Economic sentiment dropped to 96.6 in March, following February’s 98.2. The latest reading was below the long-term average of 100, pointing to a muted near-term outlook for the economy.
In March, sentiment worsened in the services sector (+4.9 vs +5.0 in February), in the retail sector (-7.2 vs -5.2 in February) and among consumers (-16.3 vs -12.3 in February). However, sentiment improved in the industrial sector (-7.0 vs -7.2 in February) and in the construction sector (-2.0 vs -2.2 in February),
In terms of specific countries, sentiment deteriorated across all major euro area economies, including Germany, France, Italy, Spain and the Netherlands.