Eurozone business confidence plummets – data ...News

The dynamic has been blamed on the break in the EU’s economic ties with Russia The business climate index in the euro area fell to its lowest level in two years in May, according to a preliminary estimate by the EU’s statistics agency, Eurostat, released on Tuesday. Data showed that the indicator, which is based on monthly surveys and is designed to assess the state of the business environment within the euro area, dropped from 0.5 points in April to 0.19 points in May. It is currently at its lowest level since early 2021, when the region’s economy was suffering the effects of the Covid-19 pandemic. According to E

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