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Consumer Confidence Largely Stable in May

EUROZONE DATA
MNI (London)

EUROZONE MAY FLASH CONSUMER CONF -17.4 (FCST -16.8); APR -17.5

  • In May, consumer confidence improved only marginally in the eurozone, edging up by 0.1pp to -17.4. Consensus had been looking for a somewhat stronger 0.8pp improvement.
  • The indicator remains around five points below the historical average, signalling continued pessimism despite the May flash print being the least-negative reading since February 2022 (pre-Russia-Ukraine war).
  • Further detail will be released next Tuesday. Of importance will be whether the final report highlights a continuation in cooling consumer price expectations, after inflation expectations slowed to a December 2020 low in last month's report.

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