PARIS (MNI) – Eurozone consumer sentiment firmed slightly in
September building on an impressive recovery since the onset of the
sovereign debt crisis this spring, according to the flash estimate
released Wednesday by the European Commission.
After a seven-point rise since May, the sentiment index edged up
another 0.2 point to -11.2, further exceeding the long-term average of
-13.
In August, consumers had noted a significant improvement in recent
economic activity and were more confident the trend would continue, with
positive spinoffs for the labor market. As a result, households were
slightly less pessimistic about their financial situation over the
coming year, expecting to spend more on big-ticket items and put more
money aside for the future as well.
Across the Eurozone, the rise in August was broad-based, led by a
strong recovery in Spain and France. Only Italy and Slovakia suffered a
setback.
The definitive figure for September should be released next week as
a component of the Commission’s comprehensive economic sentiment survey.
–Paris newsroom +331 4271 5540; e-mail: stephen@marketnews.com
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