The European
Commission (EC) reported on Tuesday its flash estimate showed the consumer
confidence indicator for the Eurozone rose by 1.0 percentage point to -13.0 in July
from an unrevised -14.0 in the previous month. This marked the highest reading since February 2022 (-9.4).
Economists had forecast
the index to advance to -13.4 early this month.
Considering the
European Union (EU) as a whole, the consumer sentiment indicator increased by 0.7 percentage point to -12.2 in July.
Given this month’s gains, both indicators are nearing their long-term averages.