European consumer confidence fell, in July, 3.2 points in the euro area and three points in the European Union (EU) as a whole, reaching the “lowest level in history”, according to estimates published this Wednesday by the European Commission.
According to the provisional estimate of the Directorate General for Economic and Financial Affairs (DG ECFIN) of the European Commission, in July, the The consumer confidence indicator fell three points in the EU and 3.2 points in the euro zone.
With -27.3 points in the EU and -27 points in the Eurozone, consumer confidence fell below its previous low reached at the start of the Covid-19 crisis, reaching the lowest level in history. points out the community executive.
The data, collected in surveys carried out between July 1 and 19 in the community space, are released at a time of armed conflict in Ukraine due to the Russian invasion of the country last February.
This month’s estimate for the EU aggregate is calculated based on consumer survey data from 26 EU countries, covering 98% of total private final consumption expenditurewhile for the euro area indicator all 19 Member States are covered.
The Consumer Confidence Indicator, published monthly by DG ECFIN, is based on responses to selected questions addressed to consumers.
Source: Observadora
