12:15 ET -- The four-point drop in the euro zone's consumer-confidence gauge is one of the largest falls on record other than at the start of the pandemic and the Ukraine war, Capital Economics' Andrew Kenningham says in a note. The indicator declined to minus 16.3 in March from minus 12.3 in February, well below its long-term average, suggesting the Iran conflict is already denting consumer sentiment. Oil-and-gas prices surged in the survey period, bond yields rose, and European equities had fallen around 4% compared to February, Kenningham says. However, the good news is that this is a much smaller decline than in March 2022, he says, when confidence fell by more than 12 points after Russia's invasion of Ukraine, eventually reaching a much lower point. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
March 23, 2026 12:15 ET (16:15 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments