Courtesy: https://www.cityam.com/

After a dip in consumer confidence for three consecutive months, things are finally looking positive for Eurozone.

For the first time in this year, Eurozone’s official economic sentiment indicator rose to 103.9 in April, up from March’s 103.0.

Researchers at the European Commission credited the increase in sentiment index to the improvement in consumer confidence that rose in all sectors of business except retail where the confidence remained low.

However, in spite of this all is not well in the Eurozone and confirming the same, Jack Allen, a European economist at Capital Economics said, “April’s rise in Eurozone business and consumer confidence do not change the bigger picture that growth in the currency union seems to be slowing.”

The GfK UK consumer confidence barometer | Courtesy: https://www.theguardian.com/

Consumer confidence in the UK has been at its lowest level since more than a year and it dropped further recently to 104.4, down from 106. Howard Archer, Chief European and UK economist at IHS Global explained the fall by saying, “UK consumer confidence weakened in April as recent mounting concerns over the economic situation and outlook were highly likely reinforced by the looming referendum on UK membership of the EU.”

According to the latest study that surveyed around 2,000 people, the confidence level among the consumers dropped in all areas including their personal financial situation and their view of the UK economy. The number of consumers feeling that now is a good time to make big purchases also saw a decline.

While economists are still divided over how much the recent slowdown in UK is due to fears of Britain voting to leave EU, Bank Of England and the Chancellor George Osborne have warned that UK’s economic activity will most likely suffer if Britain does indeed vote to leave the EU.

“So, it is not surprising that consumer are becoming more worried about the economic situation and outlook,” Howard Archer added.