Eurozone Industrial Sentiment Falls to Five-Year Low

Sentiment waned this month in the eurozone to a five-year low, adding to recent surveys that have indicated weakening economic growth in the second quarter, the Financial Times reported. The industrial confidence indicator dropped to minus 4.1 in April, the lowest since 2014, data from the European Commission show. The reading follows disappointing manufacturing indicators, such as the IHS Markit purchasing manager index, which pointed to a prolonged contraction in the month. Economic sentiment, which includes the industrial, services, construction and consumer sectors, dropped to 104 in April, the lowest level in more than two years and below expectations in a Reuters poll. Analysts say that the sentiment indicators make it unlikely that expected growth pick-up in gross domestic product for the start of the year will be sustained in the second quarter. Read more