Eurozone consumer confidence slides in February
Confidence in the economy relapsed in the Eurozone in February. The European Commission’s consumer confidence index fell to -12.7, from 11.7 in January. Analysts had expected things to improve slightly, to 11.25.
Across the European Union, January’s reading of -8.8 fell to -9.3 this month.
The fall follows weaker Eurozone PMIs, out earlier today.
Christian Schulz of Berenberg points out that the confidence figures are still in line with averages, and a far cry from crisis lows, but they do put an end to the more positive trend seen over the winter.
So far, the modest declines in the PMIs or Eurozone consumer confidence should not have alarm bells ringing. But disappointing inflation and unemployment figures next week could tip the balance towards more action in the ECB’s Governing Council.