The European
Commission (EC) announced on Wednesday its flash estimate revealed the consumer
confidence indicator for the Eurozone rose by 0.4 percentage point to -12.5 in October
from an unrevised -12.9 in the previous month. This marked the highest reading since February 2022 (-9.4).
Economists
had expected the index to improve to
-12.5 early this month.
Considering the
European Union (EU) as a whole, the consumer sentiment indicator increased by 0.5 percentage point to -11.2 in October.
Given this
month’s gains, the indicator for the EU reached its long-term average, while the
euro area’s gauge remained slightly below its long-term average.