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MNI: EUROZONE DATA: Economic Sentiment Indicator.....>

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MNI: EUROZONE DATA: Economic Sentiment Indicator (Apr 2019) Preview - 10:00 BST
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- Bloomberg Consensus: 105.0; MNI Median: 105.0; Prev (Mar): 105.5
- After peaking at 115.2 in Dec 2017, the Economic Sentiment Indicator (ESI) has
fallen in every month since Jun 2018
- Markets expect the ESI to have fallen again at the start of Q2, suggesting
that growth remains very subdued
- The flash reading of the consumer confidence sub-index - which accounts for
20% of the ESI - showed a 0.7pt decline to -7.9 in Apr
- Business confidence is also likely to have weakened, particularly in the
industrial sector...
- ... where conditions remain challenging amid still-muted external demand and
heightened uncertainty
- Nevertheless, hard data on industrial production (IP) so far this year has
been less negative than indicated by the surveys and has improved since Q4
- ... suggesting that the drag from IP on GDP should be significantly less in Q1

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