Brussels: The Economic Sentiment Indicator experienced a decline of 1.5 points, dropping to 96.7 in the European Union (EU) and 1.6 points to 96.6 in the euro area during March, as per official figures disclosed on Monday.

According to Anadolu Agency, the European Commission revealed that the Employment Expectations Indicator also saw a decrease, falling by 1.3 points to 97.3 in the EU and by 1.4 points to 96.4 in the euro area. This decline in economic sentiment has pushed both indicators further from their long-term average of 100, indicating a waning confidence.

The flash consumer confidence indicator, a key measure of household sentiment, showed a significant drop, plummeting by 3.4 points in the EU and by four points in the euro area compared to the previous month, February.

Consumer confidence scores settled at minus 15.2 points in the EU and minus 16.3 points in the euro area. The European Commission noted that these scores are the lowest recorded since October 2023, reflecting growing concerns among consumers about the economic outlook.