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EUROZONE DATA: Gradual Recovery In Consumer Confidence Continues

EUROZONE DATA
Data BulletEurozoneBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Eurozone flash consumer confidence was -12.9, a little stronger than the -13.2 consensus. August’s reading was revised a tenth higher to -13.4.  

  • The ECB’s September projections note that a “consumption-led recovery remains the central scenario”, underpinned by rising disposable incomes and “gradually increasing confidence”.
  • The post-covid trend in consumer confidence is supportive of this thesis, though the indicator remains below the 2010-2019 average of -11.0.
  • ECB Vice President de Guindos caveated this morning that consumer confidence may remain subdued despite improvements in real incomes, with political risks cited as one detrimental driver.
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Eurozone flash consumer confidence was -12.9, a little stronger than the -13.2 consensus. August’s reading was revised a tenth higher to -13.4.  

  • The ECB’s September projections note that a “consumption-led recovery remains the central scenario”, underpinned by rising disposable incomes and “gradually increasing confidence”.
  • The post-covid trend in consumer confidence is supportive of this thesis, though the indicator remains below the 2010-2019 average of -11.0.
  • ECB Vice President de Guindos caveated this morning that consumer confidence may remain subdued despite improvements in real incomes, with political risks cited as one detrimental driver.