Consumer confidence across the euro area significantly declined in July compared to the previous month to a 17-month low, with all major indexes falling below expectations on inflation and energy supply concerns, according to a report published by the European Commission on Thursday. The consumer mood index met estimates by dropping 3 points to -27 points.
The economic sentiment indicator (ESI) plunged 4.5 points to 99 points in the Eurozone, while the employment expectations index fell 3.2 points to 107 points, however remaining above its long-term average. Four of the six largest European Union economies saw the ESI decreasing, with the situation remaining stable in France and the Netherlands. On the other hand, the economic uncertainty indicator further expanded to 25.1 points.
