Eurozone economic confidence dropped to a 3-month low in February, survey data from the European Commission showed Tuesday. The economic sentiment index fell to 114.1 in February from 114.9 in the previous month. This was the lowest since last November but slightly above the expected score of 114.
The softening of the euro-area indicator resulted from decreases across all sectors except for services, the survey showed. The consumer confidence index slid to 0.1 from 1.4 a month ago. The score came in line with the flash estimate. The industrial sentiment index came in at 8.0, as expected, but down from 9.0 in January.
The sentiment index for retail trade dropped to 4.3 from 5.2. Meanwhile, the services confidence index rose to 17.5 from 16.8 in the previous month. Another report from EU showed that the business confidence index fell to 1.48 in February from 1.56 a month ago.
Managers' appraisals of past production and export order books decreased slightly, while their production expectations worsened markedly. Meanwhile, managers' assessment of stocks of finished products and overall order books remained broadly unchanged.
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