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Consumer Confidence in Euro Countries has Fallen

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Consumers in the eurozone became a little more gloomy about the economy in October. An indicator that the European Commission adjusts every month points to this.

 

Consumer confidence is now around the level it was just before the corona pandemic.

The consumer confidence index in the euro countries fell to minus 4.8. In September, a level of minus 4 was reached. As a result, consumer confidence also declined in the European Union as a whole.

The European Commission does not give reasons for the decrease. However, prices for many products have risen recently, including gas and electricity. Therefore, the fear of losing purchasing power due to rising energy bills may play a role.

Researchers from the European Commission use surveys conducted by national statistical offices in the Member States for consumer confidence measurements.

For example, it asks what people think of their own financial situation and whether they consider it a favourable time for major purchases.

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