The economic confidence indicators in the European Union declined in March, according to official data released today by the European Commission, signalling continued uncertainty.

The data showed that the Economic Sentiment Indicator (ESI) fell by 1.5 points to 96.7 in the EU, and by 1.6 points to 96.6 in the euro area.

The Employment Expectations Indicator (EEI) also declined, dropping by 1.3 points to 97.3 in the EU, and by 1.4 points to 96.4 in the euro area.

This decline moves both indicators further away from their long term average of 100, reflecting growing pessimism among businesses and consumers.

In the same context, preliminary data showed a sharp drop in consumer confidence, which fell by 3.4 points in the EU and by 4 points in the euro area compared to February.

Consumer confidence levels stood at minus 15.2 in the EU and minus 16.3 in the euro area, marking their lowest levels since October 2023, according to the Commission.