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Eurozone Consumer Confidence Unexpectedly Erodes In June
(RTTNews) - Euro area consumer sentiment deteriorated unexpectedly in June following a strong improvement in the previous month, preliminary data from a European Commission survey revealed on Friday, amid the increased uncertainty due to trade tariffs and the ongoing conflict in the Middle East.
The flash consumer confidence index for Eurozone fell to -15.3 from a revised -15.1 in May. Economists had forecast an improvement to -15.0 from the original May reading of -15.2.
The corresponding indicator for the EU also dropped by 0.2 percentage points to -14.8 in June.
The commission said the consumer morale continues to remain well below the long-term average.
The survey data was collected from June 1 to 19.
Detail data for June consumer confidence is set to be released along with the monthly economic sentiment survey results on June 27.
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