FRANKFURT (MNI) – Consumer confidence in the Eurozone surprised to
the upside in June, rebounding a half point to -17.3 and falling short
of only the most optimistic forecasts, according to preliminary
estimates published Tuesday by the European Commission.
The deterioration in a number of forward-looking indicators in the
Commission’s survey in May, including the financial outlook for
households over the next year, as well as the general outlook for the
economy as a whole, had pointed to a further decline in consumer
sentiment.
The Centre for European Economic Research (ZEW) had highlighted the
negative effect of the current debt crisis on sentiment, which may also
have impacted consumer morale.
All the components of the Commission’s Economic Sentiment
Indicator, including the final consumer confidence figure, are scheduled
for release on Tuesday, June 29.
— Frankfurt Bureau: +49 69 720 142; email: frankfurt@marketnews.com —
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