Consumer Confidence in Europe Posts a Modest Gain
The flash consumer confidence indicator for the eurozone countries is projected to increase this month, though not by as much as some experts had predicted, Bloomberg reports.
The consumer sentiment measure increased from -15.6 to -14.9 in the eurozone from August of this year to September, a modest gain, but not at the level that analysts were expecting. The consensus prediction was an increase to -14.5, which would have represented over a full point gain. At the beginning of this year, levels were at their lowest point since the height of the recession in early 2009, indicative of the second dip in the economies of eurozone countries that occurred after a recovery from the sharp declines of 2008.
The report also contained data about the entire European Union, which encompasses a broader selection of countries. In the European Union, the numbers were better, moving from -12.8 to -11.7 from August to September. The EU numbers suggest a gain reminiscent of what economists were hoping to see in the eurozone numbers, and they also represent the first time that levels have been above the long term average, -12.3, since mid-2011.