Flash Consumer Confidence (Nov........>

EUROZONE DATA: Flash Consumer Confidence (Nov 2019) Preview 21/11/19

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- Bloomberg Consensus: -7.3; Prev (Oct): -7.6 

- The EZ's flash consumer confidence indicator is expected to pick up slightly

in Nov with markets pencilling in an uptick to -7.3. 

- Consumer sentiment deteriorated throughout 2018 and moved sideways in 2019

- In Oct, the index fell to a ten-month low of -7.6 because of a decline in

consumer expectations about the general economic situation and their future

financial situation. 

- Recently rising equity prices (historically reasonably well correlated with

consumer confidence) pose an upward risk to Nov's reading. 

- Despite low inflation and a still strong labour market, consumer sentiment

remains subdued. 

- Moreover, the de-escalation of trade tensions and the possible Brexit deal

does not seem to have had a major positive effect on household's assessment of

the current situation.