Sharp Decline in Consumer Confidence

According to a preliminary report released by the European Commission on Tuesday, consumer confidence in the Eurozone is expected to witness a significant downturn in April. The indicator index is projected to plummet from March's negative 14.5 to a worrying negative 16.7.

EU-Wide Impact

The situation mirrors across the European Union, with the indicator anticipated to decrease by 2.1 percentage points month-on-month, settling at negative 16. This marks a concerning trend as both indices have "moved further away" from their long-term averages, poised to reach their lowest points in the past 18 months.