EU: Mar. 113.8
Euro area: Mar. 111.2
All sectors except for the construction sector contributed to the rise of the ESI in the EU. The increase in confidence was particularly strong in the services sector, where the indicator rose by 3 points, but also in the retail sector with a 2-point increase. Confidence in the industry sector and among consumers rose by 1 point, while confidence in the construction sector remained unchanged. Developments in the euro area were broadly similar.
At the individual country level, the picture is mixed, but a majority of countries showed an overall improvement in confidence. Among the large Member States, confidence improved in Germany (+1.5), Spain (+1.1), France (+0.7), Italy (+1.2), and the UK (+1.6), while it decreased in Poland (–2.8).
Industrial confidence indicator
EU: Mar. 6
Euro area: Mar. 6
In March, the industrial confidence indicator improved in both the EU and the euro area. In both areas the indicators increased further above their long-term averages and reached the same level as, or even rose above, their local peaks recorded in 2000.
Managers' production expectations and assessment of order books improved in both the EU and the euro area. Managers’ assessment of stocks of finished products remained stable in the EU, while it worsened slightly in the euro area.
Most of the large Member States saw their industrial confidence indicator improve. Managers in Germany (+1), Spain (+2), France (+1) and Poland (+1) became more optimistic, whereas they became less confident in the UK (-1). Industrial confidence in Italy remained unchanged.
Service confidence indicator
EU: Mar. 22
Euro area: Mar. 22
Since April 2006, the services confidence indicator in both the EU and the euro area has remained relatively stable at a level above its long-term average. In March the indicator increased markedly in the EU (+3) and in the euro area (+2).
An analysis of the separate components of the confidence indicator shows that EU and euro area managers became more optimistic regarding the recent and expected evolution of demand. Managers' assessment of the current business situation remained stable in the EU, while it improved significantly in the euro area.
The services confidence indicator increased or remained unchanged in most of the large Member States. The indicator improved in Germany (+3), France (+1), Italy (+6) and the UK (+3), while it remained unchanged in Spain and declined marginally in Poland (-1).
Consumer confidence indicator
EU: Mar. -4
Euro area: Mar. -4
In March, consumer confidence improved by 1 point in both the EU and the euro area. In both areas, the indicators remain on an upward trend and stand well above their long-term averages.
In the EU, consumers were more optimistic regarding their expectations on the general economic situation and the opportunity to save over the next 12 months. EU consumers' assessment of their financial situation over the next 12 months was unchanged, while their unemployment expectations worsened slightly. Meanwhile, in the euro area consumers' expectations concerning the general economic situation and their financial situation improved, while their views on their own savings and prospects for unemployment remained unchanged.
Even though the results are mixed at the country level, a majority of countries showed an improvement in consumer confidence. Among the large Member States, confidence increased in Germany (+2), Italy (+2) and the UK (+1), while it remained stable in Spain and decreased in France (-1) and in Poland (–2).
Retail trade confidence indicator
EU: Mar. 5
Euro area: Mar. 0
In both the EU and the euro area, the retail confidence indicator increased in March. In the EU retail confidence has returned to the peak level reached in October 2006 and the euro-area indicator also seems to be back on a rising trend.
All the components of the retail confidence indicator showed positive developments. In both areas, retailers' assessments of the current and expected business situation as well as of their volume of stocks became more optimistic.
The picture among the large Member States is positive overall. Confidence among retailers improved in Germany (+2), France (+1), Italy (+4), Poland (+2) and the UK (+4), but worsened in Spain (-2).
Construction confidence indicator
EU: Mar. 1
Euro area: Mar. 0
For the EU and the euro area, the construction confidence indicator remained unchanged in March. Both indicators still remain at very high levels, well above their long-term averages.
In the EU, both components of the confidence indicator stayed stable. Meanwhile, in the euro area a slight worsening in managers' assessment of order books was offset by an improvement in their employment expectations.
Among the large countries, construction managers became more confident in France (+2), while confidence remained unchanged in Spain, Italy, Poland and the UK. In contrast, construction confidence declined further in Germany (-1).
