Business

EU consumer confidence indicator declines

by fm

24th August 2012

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1 min read

The EU consumer confidence indicator declined in August 2012 both in the Eurozone as well as in the EU27.
According to a flash consumer confidence indicator for the EU and the euro area prepared by the Commission`s Directorate General for Economic and Financial Affairs (DG ECFIN), in August 2012, the flash estimate of the consumer confidence indicator declined markedly in both the EU (to -22.6 from -20.2 in July) and the euro area (to -24.6 from -21.5 in July).

In addition, in July the Economic Sentiment Indicator (ESI) decreased in the EU by 1.4 points, to 89.0, and in the euro area by 2.0 points, to 87.9.
The decline resulted from lower confidence in all sectors entering the calculation of the ESI. However, a loss of confidence in the services sector was the main driver of the decrease in the EU, while the euro area saw the biggest declines in industry and among consumers.

A more detailed report will be issued on August 30th.