A sharp decline in economic confidence in the euro area

An economic report published today, Wednesday, showed that economic confidence in the euro zone deteriorated over the past month to its lowest levels in a year, as confidence improved in the services sector compared to a decline in the industrial and construction sectors and among consumers.
She said in a statement on Wednesday that the economic confidence index declined last month by more than expected to 93.7 points, compared to 95.6 points in November, while analysts had expected the index to decline to 95.6 points.

Indicators decline

At the same time, the sub-index for confidence in the industrial sector declined to negative 14.1 points in December, compared to negative 11.4 points in November, recording its lowest level since July 2020. On the other hand, the confidence index in the services sector rose from 5.3 points to 5.9 points during the same period. .
In terms of consumption, the consumer confidence index in the region, which includes 20 European Union countries, declined to negative 14.5 points last month, compared to negative 13.8 points during the previous month, which was in line with analysts’ expectations.
The construction sector confidence index also declined from negative 4.9 points to negative 5.2 points during the same period, while the retail sector confidence index remained almost unchanged, recording negative 4.4 points compared to negative 4.3 points during November.