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October Consumer Sentiment Edges Up From Record Low

MNI (London)


  • Despite consensus expecting a fresh record low in October, eurozone consumer confidence increased by 1.2 points to -27.6 in the flash release.
  • The indicator has been significantly below the long-term average of -12 since the onset of the Ukraine war in March, which fuelled the global jump in energy prices and the deterioration of economic outlooks. The extremely negative outlooks will add to waning consumer spending into year-end for the bloc.
  • Sentiment in the EU also ticked up, albeit from a more severe low. Lower confidence in the EU is largely due to Eastern European EU non-euro countries being more heavily impacted through more extreme inflation and both closer proximity and trade relations with Russia.
  • The full release due next Friday will offer further details.

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