Eurozone consumer confidence nudges up
Eurozone consumer confidence nudged higher in May, though inflation and unemployment continued to temper improvements in sentiment.
The European Commission said a flash estimate showed euro zone consumer morale rose to -19.3 in May. That compared to a revised -19.9 in April, for which the Commission had previously reported a figure of -19.8.
In the wider 27-member European Union, consumer sentiment also improved, to -19.4 from -20.2.
Consumer spending makes up more than half of Eurozone economic output, but households have been squeezed by wage cuts, government spending freezes and record joblessness.
EU leaders want to encourage economic growth and employment after two years of crisis and austerity.
But the Commission has forecast an economic contraction of 0.3 per cent in the Eurozone this year.