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Financial News: Eurozone Consumer Confidence Strengthens More Than Expecte

Eurozone Consumer Confidence Strengthens More Than Expected

03/20/2024 - 12:15:00 (RTTNews)

(RTTNews) - Pessimism among consumers in the euro area lessened for a second straight month to its highest level in over two years in March and the improvement was better than expected, preliminary survey data from the European Commission showed Wednesday.

The flash consumer confidence index climbed to -14.9 from -15.5 in February. Economists had expected a score of -15.0.

The latest reading was the highest since February 2022 when the score was -9.4.

The corresponding reading for the EU also gained 0.6 points to reach -15.2.

Both reading were well below their long-term average.

The latest survey was carried out between March 1-19 among all EU countries except Ireland and Romania. This covered 97 percent of EU and 98 percent of euro area total private final consumption expenditure.

The final data for the March consumer confidence index is scheduled to be released with the monthly economic sentiment data on March 27.

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