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MNI: EUROZONE DATA: Flash Consumer Confidence (Jun...>

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MNI: EUROZONE DATA: Flash Consumer Confidence (Jun 2019) Preview - 15:00 BST
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- Bloomberg Consensus: -6.5; MNI Median: -6.6; Prev (May): -6.5
- Markets expect consumer confidence to hold steady in Jun...
- ... following a volatile start to Q2, with the index having slumped back to
-7.3 in Apr (after rising throughout Q1)...
- ... and then rebounding to a 6-month high of -6.5 in May
- While consumers' perceptions regarding the general economic situation
deteriorated, this was more than offset by a more optimistic view of their
personal financial situation
- Recent declines in equity prices (historically reasonably well correlated with
consumer confidence) pose some downside risk to expectations of a steady reading
- If the index does hold firm at -6.5 in Jun, this would leave the Q2 average at
-6.8, up slightly from -7.0 in Q1...
- ... suggesting that household spending will continue to make a positive
contribution to GDP growth in Q2

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