The European
Commission (EC) reported on Thursday
its flash estimate revealed the consumer confidence indicator for the Eurozone increased by 0.4 percentage point to -14.3 in May from an unrevised -14.7 in the previous
month. This represented the highest reading since February
2022 (-9.4).
Economists had expected
the index to rise to -14.2 early this month.
Considering the
European Union (EU) as a whole, the consumer sentiment indicator advanced by 0.5 percentage points to -13.2 in May.
Despite this month’s gains, both indicators remained well below their long-term
averages.