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Surprise Small Improvement in Consumer Confidence

EUROZONE DATA
MNI (London)

EUROZONE FLASH APR CONSUMER CONFIDENCE -16.9 (FCST -20.0); MAR -18.7

  • Consumer confidence in the Eurozone improved by 1.8 points in April, above the forecast which projected a 1.3-point decline.
  • This follows March's 9.9-point drop to -18.7, substantially below the long-term average of approx. -11, where concerns regarding the Ukraine war pushed current confidence levels to only a few points above levels seen during the first wave of the pandemic.
  • An improvement in consumer sentiment hints negative demand shocks from the onset of the war could be temporary as confidence shifts begins to recover.
  • Confidence in the EU rose 2 points to -17.6, slightly below the Eurozone aggregate.

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