Eurozone Consumer Confidence Takes a Hit

The European Commission's preliminary report on Tuesday revealed a worrying trend: consumer confidence in the Eurozone is set to decline further in April. The indicator index is projected to drop from March's negative 14.5 to a deeper negative 16.7, signaling growing pessimism among consumers.

A Wider European Concern

This downturn isn't confined to the Eurozone alone. Across the European Union, the consumer confidence indicator is expected to decrease by 2.1 percentage points month-on-month, settling at negative 16. Both indices have "moved further away" from their long-term averages, marking this as their lowest point in the past 18 months.