Eurozone Economic Sentiment Indicator rose strongly by 9.4 to 110.3 in April, above expectation of 103.0. It also scored markedly above its long term average and pre-pandemic level for the first time since the coronavirus outbreak in Europe. Employment Expectations Indicator also jumped 9.3 pts to 107.1), lifting it above long-term average and pre-pandemic level too.
Looking at some details, Eurozone industrial confidence rose from 1.1 to 9.4. Services confidence rose from -9.4 to 2.8. Consumer confidence rose from -12.1 to -9.0. Retail trade confidence rose from -11.0 to -1.5. Construction confidence rose from -5.0 to 0.8.
EU ESI rose 9.8 pts to 109.7. The ESI rose markedly in all of the six largest EU economies, most so in Poland (+11.3), followed by the Netherlands (+10.7), Spain (+9.1), France (+8.5), Germany (+5.7) and Italy (+5.3). Thanks to the latest increases, sentiment in all six countries is above its long-term average of 100.
