Euro-area economic confidence unexpectedly slowed this month, defying hopes for a continued rebound on year after Russia invaded Ukraine.
(Bloomberg) — Euro-area economic confidence unexpectedly slowed this month, defying hopes for a continued rebound on year after Russia invaded Ukraine.
A sentiment gauge published by the European Commission slid to 99.7 from a revised reading of 99.8 a month earlier. Economists had predicted a fourth monthly increase, with all but one estimate in a Bloomberg survey anticipating such a move.
The data contrast with recent sentiment gauges across the region that suggest a mild winter would allow the region to avoid a serious slump.
Gauges for industry and services declined in Feburary, while consumer sentiment improved.
–With assistance from Joel Rinneby and Barbara Sladkowska.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.