The European Commission (EC) said on Monday its flash estimate showed the consumer confidence indicator for the Eurozone decreased by 5.0 points to -11.6 in March from the previous month. That was the lowest level since November 2014.

Economists had expected the index to worsen to -15.0.

Considering the European Union (EU) as a whole, consumer sentiment dropped by 4.2 points to -10.4.

After these declines, the indicator for the Eurozone was below its long-term average of -11.0, while the indicator for the EU stood at its long-term average level.