Eurozone Consumer Confidence Unexpectedly Weakens In July

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Eurozone consumer confidence deteriorated slightly in July, defying expectations for further strengthening, preliminary survey data from the European Commission showed on Thursday.

The flash consumer confidence indicator for euro area fell to -15 from -14.7 in June. Economists had forecast an improvement to -12.

The reading had improved strongly in May and June after plummeting in March and April due to the impact of the coronavirus, or Covid-19, pandemic.

For the EU, the flash consumer confidence index showed a reading of -15.6, which was unchanged from June. In May, the score was -19.5.

Both indicators remain well below their long-term averages of ?11.1 and ?10.5, respectively, the commission said.

The survey data was collected between July 1 and 22.

The final reading for consumer confidence is scheduled to be released together with the economic sentiment survey data on July 30.

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