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Ukraine War Sees Flash Consumer Confidence Drop

EUROZONE DATA
MNI (London)

EUROZONE MAR CONSUMER CONFIDENCE -18.7 (FORECAST: -12.9); FEB -8.8

  • Consumer sentiment in the euro area dropped 9.9 points to -18.7 in the March flash estimate, substantially below the long-term average of around -11.
  • This is substantially below market forecasts of a 4.1 point drop, whereby MNI highlighted the likelihood of significant downside risks.
  • Consumer confidence in the EU fell 9.4 points to -19.6.
  • The Ukraine war was the key downwards driver, pushing current confidence levels to only a few points above levels seen during the first wave of the pandemic.


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