The European Commission reported its preliminary estimates showed the consumer confidence indicator for the Eurozone dropped 0.7 points to -7.9 in April from the previous month.

Economists had expected the index to come in at -7.

Considering the European Union (EU) as a whole, consumer sentiment index declined 0.6 points to -7.7.

Despite these drops, both indicators remain well above their respective long-term averages of -11.3 (Eurozone) and -10.4 (EU), the report said.