29 April 2013 15:15 [Source: ICIS news]
LONDON (ICIS)--The European Commission's Business Climate Indicator for the eurozone fell 0.18 points to 0.93 in April, the Commission said on Monday.
“While the assessment of the stocks of finished products remained broadly stable, all other components deteriorated – current order books (overall and export), past production, and production expectations,” the Commission said.
“The assessments of past production and overall current order books witnessed particularly sharp declines,” it added.
The Economic Sentiment Indicator for the 17-country eurozone also slipped in April, declining 1.5 points to 88.6, while in the EU as a whole it fell 1.8 points to 89.7, the Commission said.
Morale in Germany worsened by 2.3 points, in France by 2.0 points and in Italy by 1.9 points, while it remained broadly stable in the Netherlands (+0.2) and Spain (+0.9), it added.
Consumer confidence in the bloc rose, however, increasing 1.2 points, the Commission said.
Analysts expect the European Central Bank on Thursday to react to the economic situation in the eurozone by cutting its main interest rate.
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