Financial News: Eurozone Consumer Confidence Sinks To Lowest In 5

Eurozone Consumer Confidence Sinks To Lowest In 5 Months

11/21/2024 - 14:24:00 (RTTNews)

(RTTNews) - Consumer sentiment in the euro area deteriorated more than expected to its lowest level in five months in November, preliminary results of a survey by the European Commission showed on Thursday.

The flash consumer confidence index for Eurozone fell to -13.7 from <a href=https://www.rttnews.com/3485635/eurozone-economic-sentiment-weakens-in-october.aspx target=_blank >-12.5 in October</a>. Economists were looking for a score of -13.0.

The latest reading was the weakest since June when the score was -14.0.

The corresponding index for the EU dropped by 1.1 percentage points to -12.4.

Both consumer confidence readings fell back below their long-term average, the EU said.

The survey data was collected from November 1 to 20.

The fall in the consumer confidence indexes came after the presidential election in the U.S. that saw Donald Trump getting elected for another term.

The final figures for the consumer confidence index for November are set to be published along with the monthly economic sentiment survey data on November 28.

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