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Consumer Confidence Close to Pandemic 2020 Low

EUROZONE DATA
MNI (London)

EUROZONE JUNE FLASH CONSUMER CONFIDENCE -23.6; MAY -21.2r

  • The European Commission’s flash Eurozone Consumer Confidence dipped a further 2.4 points to -23.6 in June, contrary to forecasts of a modest 0.6pp improvement.
  • This is substantially below the long-term average of -11.0 and inching towards the record low seen at the onset of the pandemic in April 2020.
  • The EU confidence indicator saw a marginally softer 1.9-point slip to -24.0, remaining 0.4 points lower than in the Eurozone.
  • With inflation across the Eurozone hitting a record 8.1% in May and energy and food prices seeing further concerning upticks, consumers' optimism regarding their current and future financial outlooks will have fallen further. In particular, consumer confidence in the region is particularly sensitive to worsening conditions in the Ukraine war seen over the past months.


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EUROZONE JUNE FLASH CONSUMER CONFIDENCE -23.6; MAY -21.2r

  • The European Commission’s flash Eurozone Consumer Confidence dipped a further 2.4 points to -23.6 in June, contrary to forecasts of a modest 0.6pp improvement.
  • This is substantially below the long-term average of -11.0 and inching towards the record low seen at the onset of the pandemic in April 2020.
  • The EU confidence indicator saw a marginally softer 1.9-point slip to -24.0, remaining 0.4 points lower than in the Eurozone.
  • With inflation across the Eurozone hitting a record 8.1% in May and energy and food prices seeing further concerning upticks, consumers' optimism regarding their current and future financial outlooks will have fallen further. In particular, consumer confidence in the region is particularly sensitive to worsening conditions in the Ukraine war seen over the past months.