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Daily News

EU, Euro Economic Confidence Drops Again
Apr 1, 2009
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EU and euro-zone business and consumer confidence dropped again in March to the lowest level in 24 years, according to a European Commission report. The survey of how companies and shoppers see the economy fell more slowly than in the first two months of the year, the report said.

It is now at the lowest level since statistics started in January 1985 for both the 16 nations that use the euro and the entire 27-nation European Union.

The economic sentiment indicator declined from 60.9 to 60.4 in the EU and from 65.3 to 64.6 in the euro area.

Consumer confidence was stable in the EU, but fell slightly in the euro area. Shoppers were more worried about unemployment, the general economic situation and about their own savings in the year ahead, according to the report.

Italians saw the biggest drop in confidence during the month with softer falls in France, Poland, Germany, and Britain. The Netherlands and Spain rebounded slightly.

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