EU: Apr. 113.6
Euro area: Apr. 111.0
The stabilisation in the sentiment indicator in the EU is reflected in all sectoral confidence indicators except for the retail trade confidence indicator, which actually increased by two points. Similarly, in the euro area all sectors contributed to the stabilisation of the ESI except for the industry sector, where the confidence indicator increased by one point.
At the individual country level, the picture is mixed, with a roughly equal number of countries reporting increases or decreases in sentiment. Among the large Member States, confidence improved in Germany (+1.4) and Poland (+4.0), while it decreased in Spain (-2.2), Italy (-1.1), and the UK (-0.9). In France, the ESI remained practically unchanged (+0.1). The amplitude of changes was rather small overall.
Industrial confidence indicator
EU: Apr. 6
Euro area: Apr. 7
In April, the industrial confidence indicator remained stable in the EU and improved further by 1 point in the euro area. While confidence in the euro area is at the highest level ever surveyed, it scores just one point below its record level of December 1994 in the EU.
Managers' production expectations remained stable in the EU and improved slightly in the euro area. While managers’ assessment of order books improved in both areas, the views on their stocks of finished products became more negative in the EU and remained stable in the euro area.
Among the large Member States, industrial confidence remained unchanged in Germany, France and Poland. Managers became markedly more optimistic in Italy (+3), while they became less confident in Spain (-1) and the UK (-2).
Service confidence indicator
EU: Apr. 22
Euro area: Apr. 22
Following its marked increase of March, the services confidence indicator remained unchanged in both the EU and the euro area in April. In both regions, the indicator stands at 22 points.
An analysis of the separate components of the confidence indicator shows that EU and euro area managers became more optimistic regarding their current business situation. Managers' assessment of the recent evolution of demand remained stable in the EU, while it improved slightly in the euro area. In both areas, managers became more pessimistic regarding the expected evolution of demand.
The stabilisation at the EU level masks a rather diverse pattern at the individual country level. Among the large Member States, services confidence improved in Germany (+2), Poland (+2) and the UK (+3), while it declined in France (-1), Italy (-3) and Spain (-2).
Consumer confidence indicator
EU: Apr. -4
Euro area: Apr. -4
In April, consumer confidence remained unchanged in both the EU and the euro area. In both areas, the indicators have been on a rather steady upward trend since mid 2005 and remain well above their long-term averages.
In the EU and the euro area, consumers were more optimistic regarding unemployment expectations, while their views on saving opportunities over the next 12 months deteriorated. Households' assessments of their financial situation over the next 12 months were unchanged in the EU and worsened slightly in the euro area, while expectations on the general economic situation improved somewhat in the EU and remained stable in the euro area.
At the country level, the results are fairly mixed. Among the large Member States, Germany (+3), France (+2) and Poland (+5) saw rises in confidence, while consumers in Spain (-2), Italy (-6) and the UK (-2) reported falling confidence.
Retail trade confidence indicator
EU: Apr. 6
Euro area: Apr. 0
In the EU, the retail confidence indicator increased further by two points in April, reaching its highest level in almost two decades. In the euro area, retail confidence remained unchanged at its March level.
As to the components of the retail confidence indicator, both the current and the expected business situation were assessed more positively, particularly in the EU. On the other hand, retailers' assessments of their volume of stocks became more pessimistic, and more significantly so in the euro area.
The picture among the large Member States is generally positive, with the exception of Italy, where retail confidence slumped by 9 points. In Germany (+3), France (+3) and the UK (+5), confidence among retailers improved, while it remained unchanged in Spain and Poland.
Construction confidence indicator
EU: Apr. 1
Euro area: Apr. 0
For the EU and the euro area, the construction confidence indicator remained unchanged in April for, respectively, the third and second time in a row.
In both the EU and the euro area, an improvement in managers' assessment of order books was offset by a worsening in their employment expectations.
Among the large Member States, construction managers became markedly more confident in Spain and in Italy, with increases in confidence of 5 points. On the other hand, confidence declined in Germany (-3) and France (-4), and remained unchanged in Poland and the UK.
