Eurozone Consumer Confidence Improves in June
Consumer confidence in the eurozone improved in June, according to preliminary data published by the European Commission on Monday.
The flash estimate showed that the consumer confidence indicator increased by 1.3 points, rising to -17.7 in June from -19.0 in May.
Reading Falls Slightly Below Expectations
Although sentiment improved during the month, the result was slightly weaker than economists had expected.
Analysts surveyed by Reuters had forecast that eurozone consumer confidence would rise to -17.5.
The latest reading therefore missed market expectations by 0.2 points. However, the monthly increase indicates that households became somewhat less pessimistic about the economic outlook.
Consumer Sentiment Also Rises Across the EU
Consumer confidence also strengthened across the wider European Union.
The European Commission reported that the EU consumer sentiment indicator increased by 1.2 points to -17.0 in June.
Despite the improvement, confidence levels remained below zero in both the eurozone and the European Union. This suggests that consumers continue to hold a generally cautious view of economic conditions.
