EU industrial production rebounds, economic sentiment hit: Eurostat

This decline was mostly seen in plummeting consumer confidence, accompanied by marked losses also in retail trade and industry confidence; by contrast, confidence improved slightly in services and remained broadly unchanged in construction, EU said in a press release.

Inflation showed signs of a further rise across EU member states in March, reaching 7.5 per cent, and setting another record high level since the beginning of the time series in 1997.

As regards the EU labour market and population, in February 2022 the unemployment rate dropped further below its pre-pandemic level while the excess mortality rate remained rather stable.

The first estimate for euro area exports of goods to the rest of the world in February 2022 was €215.8 billion, an increase of 17 per cent compared with February 2021 (€184.5 billion).

Imports from the rest of the world stood at €223.4 billion, a rise of 38.8 per cent compared with February 2021 (€161.0 billion), driven again, in particular, by a further increase in energy imports.

As a result, the euro area recorded a €7.6-billion deficit in trade in goods with the rest of the world in February 2022 compared with a surplus of €23.6 billion in February 2021. Intra-euro area trade rose to €202.5 billion in February 2022, up by 25.6 per cent compared with February 2021.

The EU recorded a €15.8-billion deficit in trade in goods with the rest of the world in February this year, compared with a surplus of €21.4 billion in February 2021. Intra-EU trade rose to €315.1 billion in February, a 22.6 per cent rise compared with February 2021.

Fibre2Fashion News Desk (DS)