In April, the economic climate in the euro area continued to deteriorate

More than expected, the economic sentiment in the euro area declined to its lowest level in two and a half years on the basis of a statement of the European Commission’s Directorate-General for Economic and Financial Affairs (DG EcFin) published on Monday. The highest economic sentiment index in the European Union was reached in Hungary in April.

In April, the economic sentiment index led by DG Ecfin in the euro area dropped to 104.0, the lowest since September 2016, down from the 106.0 points of March, while 105.6 points was expected. The indicator has been declining for the sixteenth consecutive month. This year, the index started at 106.2 points. (MTI)