LONDON – A closely watched survey shows that economic confidence across the 19-country eurozone fell in March for a third month running to a 13-month low, the latest in a run of figures to indicate that the recovery is losing pace.
In its monthly assessment of confidence, the European Union's executive arm said its economic sentiment indicator fell 0.9 points to 103.0 in March.
The European Commission said the deterioration in sentiment was due to lower confidence among consumers as well as managers in the services and construction sectors. It was also fairly broad-based across countries, with Italy and France faring particularly badly. Germany, the region's biggest economy, held up better.
The Commission noted that its survey results were collected before the Brussels terror attacks of March 22.