Eurozone Consumer Confidence Highest Since 2018

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Eurozone’s consumer confidence rose more than expected in May to its highest level in more than two-and-a-half years, preliminary data from European Commission’s monthly survey showed Friday.

The flash consumer confidence index climbed to -5.1 from -8.1 in April. Economists had forecast a score of -6.8.

The latest reading was the highest since October 2018, when it was at the same level. A reading higher than that, -4.7, was seen in August that year.

The consumer confidence index for the EU also climbed three points to -6.0 in May. That was the highest since February last year, when it was -5.8.

The euro area indicator is slightly above its pre-pandemic level, while the EU measure equaled the level, the commission said.

The latest survey was conducted from May 1 to 20.

The final figures is set to be released along with the results of the monthly economic sentiment survey on May 28.

The material has been provided by InstaForex Company – www.instaforex.com

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