Consumer confidence improved in the European Union in July

Consumer confidence in the euro area and in the European Union as a whole improved in July compared with the previous month, according to preliminary data released on Tuesday by the European Commission’s Directorate-General for Economic and Financial Affairs (DG EcFin).

In the euro area, the indicator improved by 0.6 points to 6.6 points. And in the 28 Member States of the European Union, the index improved by 1 point, minus 5.9 points.

In the euro area, consumer confidence index averaged minus 10.7 points between 2005 and 2019, and minus 10 points in the EU.
Household consumption accounts for more than half of the euro area GDP. (MTI)