Economic Confidence Index Declines in Eurozone

The economic confidence index in the Eurozone decreased to 105 in April as a result of the Russia-Ukraine conflict, which began on February 24.

While the negative effects of the war on the economy became more noticeable with each passing day, the economic confidence index in the Eurozone fell to 105 in April. Thus, the lowest level of a year was recorded in the index. Manufacturing PMI, on the other hand, indicated growth in April, despite the war.

It Was Below Market Expectations

Economists participating in the Bloomberg survey had expected the index to be 108. The March index value, which was previously announced as 108.5, was revised down to 106.7. The Eurozone manufacturing PMI final reading was also in line with the previous month. Accordingly, the index was recorded as 55.5, indicating growth. PMIs were recorded above the threshold value of 50 in the region's two largest economies, Germany and France.