Eurozone consumer confidence in April
According to a report from the European Commission, the Eurozone Consumer Confidence Index stood at 0.4 so far in April as compared to 0.1 in March 2018, which was in line with the market expectations of 0.4.
The index measures the level of confidence consumers have in the economy. The consumer confidence index improved marginally in April as compared to last month mainly due to the improvement in economic activity of households.
Households have slightly optimistic views on the future financial condition. The falling unemployment rate is improving their confidence. As household expenditure is an important component of the Eurozone’s GDP, the improvement in this component is a positive sign for the economy.
Major ETFs of the Eurozone (N100-INDEX) such as the Vanguard FTSE Europe ETF (VGK) and the iShares Europe ETF (IEV) rose 2.6% and 2.5%, respectively, so far in April 2018. The iShares MSCI Germany ETF (EWG), which tracks the performance of Germany, and the iShares MSCI France ETF (EWQ), which tracks the performance of France, have risen 1.9% and 1.8%, respectively, in April.
In the next part of this series, we’ll analyze the performance of the German Ifo Business Climate Index in April.