Euro Area Consumer Confidence

Last Release

Jul 31, 2024

Actual

-13

Units In

Points

-14

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
-1.4 May 2000	-28.7 Sep 2022	-10.51 Points	1985-2024	European Commission

In Euro Area, the Consumer Economic Sentiment Indicator measures the level of optimism that consumers have about the economy. The survey is made by phone and covers 23 000 households in the Euro Area. The number of households sample varies across the zone. The questions focus on current economic and financial situation, savings intention as well as on expected developments regarding: consumer price indexes, general economic situation and major purchases of durable goods. The Consumer ESI measures consumer confidence on a scale of -100 to 100, where -100 indicate extreme lack of confidence, 0 neutrality and 100 extreme confidence.

Latest Updates

The consumer confidence indicator in the Euro Area increased by 1.0 points from the previous month to -13 in July 2024, the highest level since February 2022 and surpassing market forecasts of -13.4, as per initial estimates. The European Central Bank's recent interest rate cut in June due to a gradual inflation deceleration has fueled optimism. Markets are optimistic about further rate cuts in September and potentially in December. Also, political concerns in France have lessened after parliamentary elections, with fears of one-party dominance giving way to legislative gridlock. In the broader European Union, consumer sentiment also showed improvement, rising by 0.7 points to -12.2.