According to the final report from the European Commission, consumer confidence in the eurozone worsened in December, recording a second consecutive monthly decline and reaching its lowest level since April 2024.
The consumer confidence index declined to -14.5 points compared to -13.8 points in November (revised from -13.7). The latest figure was in line with the preliminary estimate and economists' forecasts. Meanwhile, the economic sentiment indicator fell to 93.7 points from 95.6 points in November (revised from 95.8). Consensus estimates suggested that the index would be 95.6. The employment expectations indicator fell by 1.4 points to 97.3 points.
As for the EU countries, the economic sentiment indicator fell by 1.7 points to 94.5 points, and the employment expectations indicator decreased by 1.0 points to 98.4 points. The downturn in the economic sentiment indicator was driven by lower confidence in industry, construction and among consumers, partially offset by an increase in services confidence. Confidence in retail trade remained broadly stable. For the largest EU economies, the economic sentiment indicator declined markedly in France (-3.0), Germany (-2.5), and Italy (-1.1), while it improved in Spain (+0.9).
The data also showed that the indicator of economic uncertainty rose in December to 17.2 from 16.1 in November. The latest change was caused by increased uncertainty about the future business situation in industry and retail trade and, to a lesser extent, in services. Uncertainty about the future business situation in construction, as well as consumers’ uncertainty about their future financial situation remained broadly stable.