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Euro Area Consumer Confidence Unexpectedly Jumps to -21.1 in May

Shopping cart with cardboard boxes with a pattern of trading carts and a green up arrow. Increase the pace of sales, production of goods. Improving consumer sentiment. Strategy for increasing revenue

Eurozone consumer confidence edged up in May despite concerns over Russia’s invasion of Ukraine and surging energy-driven inflation.

  • The European Commission stated that the flash estimate showed the euro area consumer confidence rose slightly to -21.1 this month from -22 in April.
  • Economists surveyed by Reuters had anticipated an increase to -21.5.
  • The increase was slightly better than the small expected increase to -21.5 but left the index at multi-year lows as consumers struggled with the rising inflation.

In the entire European Union, consumer sentiment edged down by 0.4 points to -22.2.

EuroStoxx 50 up +0.85%, EURUSD down -0.25%

Source: European Commission


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