Euro Area Industrial Sentiment

The industry confidence indicator in the Euro Area fell to -11.2 in April of 2025 from the downwardly revised -10.7 in the previous month, firmly below market expectations that it would improve slightly to -10.1. The result was in line with the worsening of other survey-based economic indicators amid the threat of US sanctions and the uncertainty of their magnitude. Production expectations refrained were not positive for the first time this year (0 vs 3.4 in March) as the uncertainty indicator soared to its highest since January 2023 (38.8 vs 33.4). In the meantime, selling price expectations eased (11 vs 11.3), the drop on order books softened (-25.1 vs .26.5) and pessimism on employment expectations (-4.5 vs -5.6).