The consumer confidence indicator in the euro area and the entire European Union in July continued to recover, going up by 1 percentage point in comparison to the previous month, landing at negative 15.1 and 16.1 respectively, the European Commission shared in its final report on Friday.
On the other hand the Economic Sentiment Indicator (ESI) fell by 0.5 points to 93.6 in the EU and by 0.8 points to 94.5 in the euro area, "due to significantly lower confidence among managers in industry and construction." The Employment Expectations Indicator (EEI) fell by 1.8 percentage points to 102.4 in the bloc and 103.0 in the euro area.
"Consumer confidence continued its recovery from the all-time low of September 2022, fuelled by improvements in consumers’ views on their househol's past financial situation and the future financial situation, as well as the expected general economic situation in their country," the Commission said.
