According to the final report from the European Commission, consumer confidence in the eurozone improved moderately in April, confirming economists' forecasts, while the economic sentiment index was almost unchanged compared to March.
The consumer confidence index rose to -17.5 points compared to -19.1 points in March (revised from -19.2). Meanwhile, the economic sentiment indicator increased to 99.3 from 99.2 in March (revised from 99.3). Consensus estimates suggested an increase to 99.9. The employment expectations indicator fell to 107.4 from 108.9 in March.
As for the EU countries, the economic sentiment indicator remained at 97.3 points, and the employment expectations indicator fell to 106.1 from 107.5 in March. The flat reading of the economic sentiment indicator mainly resulted from a combination of significantly higher confidence among consumers (+1.7 points) and significantly lower confidence among industry managers (-1.7 points). While confidence in services (+0.3 points) and retail trade (+0.3 points) also edged up, construction confidence remained broadly unchanged (-0.1 points).
The data also showed that the indicator of economic uncertainty fell in April to 21.8 from 22.1 in March, as managers’ uncertainty about their future business situation in industry, retail trade and construction as well as uncertainty of consumers as to their future financial situation declined, while uncertainty in services picked up.