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Financial News: Eurozone Consumer Sentiment Set To Weaken In Months

Eurozone Consumer Sentiment Set To Weaken In Months Ahead: Capital Economics

02/21/2017 - 01:21:00 (RTTNews)

(RTTNews) - Eurozone consumer sentiment is likely to weaken in the coming months on higher inflation and rising uncertainty from elections in major economies, Daniel Christen, an assistant economist at Capital Economics, said.

The flash consumer sentiment index dropped by 1.4 points to -6.2 in February, data published by the European Commission showed late Monday.

The score suggests that the consumer sector, which has been supported by previous low rates of inflation, the easing of the fiscal squeeze, and falling borrowing costs associated with the European Central Bank's exceptionally expansionary monetary policy, is now starting to see these effects fade.

Looking ahead, the economist noted that higher inflation will reduce real wage growth compared to prior year, while the uncertainty related to forthcoming popular votes in the Netherlands, France, Germany, and perhaps in Italy, could weigh on the economy.

Capital Economics forecast the euro area GDP growth to ease to around 1 percent this year from 1.7 percent in 2016.

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