EU sentiment flat as services optimism offsets industry gloom

[April 27, 2023]  BRUSSELS (Reuters) - Euro zone economic sentiment was broadly unchanged overall in April, as a pick-up among consumers and retail and services sectors offset a more gloomy view among manufacturers, while price expectations continued to fall. 

Vintage cameras are on decorative display in the shop window of a photo studio in Altenburg, September 10, 2014. REUTERS/Kai Pfaffenbach/File Photo

The European Commission's monthly survey showed on Thursday that economic sentiment in the 20 countries sharing the euro rose to 99.3 points in April from a downwardly revised 99.2 in March.

It was the indicator's fourth consecutive month between 99 and 100. Economists polled by Reuters had expected an improvement to 99.9 points.

Sentiment in industry slipped for the third straight month, against expectations of a rise, as production expectations and assessments of order books worsened.

In services, the biggest sector of the euro zone economy, sentiment rose due to more optimism over past and future demand.

Selling price expectations among manufacturers fell for a seventh consecutive month to a level not far above the long-term average.

Inflation expectations among consumers reached their lowest level since December 2020, continuing a downward trend that began in April 2022, the Commission survey showed.

For European Commission data click on:

(Brussels newsroom)

[© 2023 Thomson Reuters. All rights reserved.]
This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.