Press Release: April 2011: Economic sentiment declines in both the EU and the euro area

The Economic Sentiment Indicator (ESI) for the EU and the euro area declined in April, but remains well above its long-term average. It fell significantly by 2.3 points to 105.1 in the EU and more moderately by 1.1 points to 106.2 in the euro area, marking the second decline in a row in that region. In both regions, the fall in the ESI stemmed from a decline in confidence in all sectors except construction, where sentiment improved from low level on the back of more favourable weather conditions. The more negative readings of the ESI in the EU reflect a sharp drop in the UK, especially in the services and retail sectors.