Eurozone economic confidence rose sharply in April to the pre-pandemic level for the first time since the outbreak of Covid-19, survey results from the European Commission showed on Thursday.

The economic confidence index climbed to 110.3 from 100.9 in March. The score was well above economists’ forecast of 102.2 and reached its highest level since September 2018.

Although the surveys have been too optimistic about activity in the first quarter, the economy seems to have started the second quarter on a somewhat stronger footing than anticipated, Jessica Hinds, an economist at Capital Economics, said.

All surveyed business sectors showed improvements in sentiment. Confidence among consumers also strengthened in April.

The industrial confidence index advanced to a record 10.7 from 2.1 in March. Economists had forecast the index to rise moderately to 4.0.

The improvement in industrial sentiment was driven by managers’ production expectations, their assessments of the current level of overall order books and of the stocks of finished products.

The services sentiment indicator came in at 2.1, up from -9.6 in the previous month. The reading was expected to rise to -8.7.

This was the second significant improvement in a row, driven by managers’ more optimistic demand expectations, as well as more positive views on the past business situation and past demand.

The consumer confidence index climbed to -8.1 from -10.8 a month ago. The score matched the flash estimate.

The retail trade confidence index climbed to -3.1 from -12.2 a month ago. The rise reflected managers’ improved assessments of the past and the expected business situation and, to a lesser extent, the adequacy of the volume of stocks.

The construction confidence index advanced to 2.9 in April, as managers posted better appraisals of the level of order books and, particularly, more optimistic employment expectations.

The employment expectations indicator exceeded its long-term average for the first time since February 2020. The improvement was driven by more optimistic employment plans in all surveyed business sectors, namely industry, services, retail trade and construction.

Selling price expectations increased markedly in all surveyed business sectors in April. Consumer price expectations increased only mildly.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.