Eurozone March final consumer confidence -10.8 vs -10.8 prelim

Latest data released by Eurostat – 30 March 2021

  • Economic confidence 101.0 vs 96.0 expected
  • Prior 93.4
  • Industrial confidence 2.0 vs 0.0 expected
  • Prior -3.3; revised to -3.1
  • Services confidence -9.3 vs -14.9 expected
  • Prior -17.1; revised to -17.0

Optimism in the euro area continues to beat expectations as economic confidence rises slightly above the long-term average for the first time since the pandemic. Of note, Germany showed the largest improvement in sentiment with a jump of +7.9 to 103.7.

This reaffirms a more positive outlook towards 2H 2021 but the latest virus developments may still pour cold water on those expectations in the months ahead.