Consumer sentiment is on a nearly sixteen-year high in the euro area

Consumer confidence in the euro area has improved considerably in June to its sixteen year peak. Consumer sentiment has improved in the European Union as well – the preliminary data of the European Commission’s Directorate-General for Economic and Financial Affairs (ECFIN) revealed on Thursday.

The euro area’s consumer sentiment index improved from the minus 3.3 points of May to minus 1.3 points in June. This is the best data since April 2001. Analysts expected -3.0 points in June.
Household consumption gave more than half of the GDP in the euro area.

In the 28 Member States of the European Union, the Consumer Confidence Index in June increased by 1.1 points to minus 2.2 points, which is a peak of more than two years. The index has not been so high since March 2015. (MTI)