Consumer confidence in the euro area was unchanged at a reading of 0.1 points in March compared to the previous month, according to the latest flash estimates from the European Commission.

Consumer sentiment in the wider EU was also unchanged at -0.3 points, according to the European Commission.

In February, consumer confidence fell by 1.3 points due to lower expectations regarding future unemployment and savings.

The latest eurozone consumer confidence reading shows a pickup in household spending growth, said Stephen Brown, economist at Capital Economics.

Brown also said consumers' concerns over recent softness in stock prices and rising trade tensions between the EU and U.S. seem to have been offset by declines in fuel prices and continued improvements in the region's labor market.

"Looking further ahead, the US tariffs announced so far are unlikely to halt the upturn in employment across the region," Brown said in an email.