Business confidence in the euro zone rose to a three-month high in March as all sectors except construction improved, European Commission survey data showed on Wednesday.
As expected, the business confidence index for March was 96.3, up from 95.5 the previous month.
The industrial confidence index rose to -8.8 from -9.4 in February. Managers' production expectations weakened, and fewer managers rated finished goods inventories as too high or above normal.
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The service confidence index improved from 6.0 in the previous month to 6.3 due to rising demand expectations from business owners.
Consumer confidence continued to improve as households' views on their past and expected financial situation became brighter and pessimistic expectations about the general economic situation eased somewhat.
The consumer confidence index in March was -14.9, up from -15.5 in February. This figure is in line with preliminary figures and is the highest since February 2022.
The retailer confidence index improved from -6.6 to -5.7 due to a positive review of past business performance and an improved view of inventory adequacy.
The construction sentiment index fell slightly from -5.5 to -5.6. The survey showed that construction industry employment expectations improved only slightly, while the assessment of the level of orders received remained largely unchanged.
The employment expectations index remained almost unchanged from March at 102.6, exceeding the long-term average.
The survey suggests that retail, construction and service industries will experience a significant decline in sales price expectations, while industrial prices will rise slightly.