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Consumer Confidence Continues To Recover

EUROZONE DATA
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Eurozone flash consumer confidence was -14.9 in March, essentially in line with the -15.0 consensus and above February's -15.5 reading.

  • Bund futures were essentially unmoved by the release.
  • The reading has steadily improved from the September 2022 low of -28.6, but being the flash release, additional details on March's sub-components are not available.
  • Analysts currently expect Eurozone consumption growth at 1.0% Y/Y in 2024 (vs 0.5% Y/Y in 2023).
  • The Q1 '24 analyst consensus for household consumption is 0.7% Q/Q (vs 0.6% Q/Q in Q4 '23), above the 0.3% Q/Q projected by the ECB in their March projections.

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Eurozone flash consumer confidence was -14.9 in March, essentially in line with the -15.0 consensus and above February's -15.5 reading.

  • Bund futures were essentially unmoved by the release.
  • The reading has steadily improved from the September 2022 low of -28.6, but being the flash release, additional details on March's sub-components are not available.
  • Analysts currently expect Eurozone consumption growth at 1.0% Y/Y in 2024 (vs 0.5% Y/Y in 2023).
  • The Q1 '24 analyst consensus for household consumption is 0.7% Q/Q (vs 0.6% Q/Q in Q4 '23), above the 0.3% Q/Q projected by the ECB in their March projections.