Consumer sentiment in the euro area deteriorated somewhat

In July, consumer confidence in the euro area and in the EU as a whole lagged behind the previous 16-month peak of the previous month, according to preliminary data published on Thursday by the European Commission’s Directorate-General for Economic and Financial Affairs (ECFIN).

The euro area consumer sentiment index deteriorated from minus 1.3 point in June to minus 1.7 in July. The previous month was the most favorable data since April 2001. Analysts predicted a minus 1.1 point index in July.

In the 28 Member States of the European Union, the Consumer Confidence Index declined by 0.1 points to minus 2.3 points. The previous month’s figure was more than two-year high, the index has not been as high as it was in June since March 2015. (MTI)