Germany: Economic sentiment drops in March
Latest reading: Economic sentiment declined to 92.9 in March, following February’s 93.0. 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 construction sector (-10.2 vs -9.7 in February), the retail sector (-25.3 vs -25.1 in February) and among consumers (-13.5 vs -10.9 in February). On the flipside, sentiment turned more upbeat in the industrial sector (-14.5 vs -15.2 in February) and the services sector (+6.4 vs +4.0 in February).