Euro zone consumer confidence tumbled in March, depressed by the coronavirus pandemic which caused lockdowns in most European countries, European Commission data showed on Monday.

The Commission said its flash estimate of the consumer confidence indicator plummeted in the 19 countries sharing the euro by 5.0 points to -11.6 points and in the EU by 4.5 points −10.4 points.

But the number could, in fact be much worse, because the Commission said the data collection period for the indicator stopped earlier than usual in the large majority of countries because of the epidemic and the number was based on only some 15% of consumers’ responses. (Reuters)

Source: www.businessworld.ie