London, Wednesday, 20 July 2022
According to a preliminary assessment, the consumer confidence indicator for the Euro Area decreased by 3.2 points to -27 in July 2022 from -23.8 in June, falling short of market forecasts of -24.9.
The unstable energy supplies from Russia and their effect on growth at a time when the ECB is preparing to hike rates for the first time in 11 years have resulted in the lowest reading since the series' inception in 1985.
Consumer confidence in the European Union as a whole dropped by 3 points to -27.3.
(Source: European Commission // Edited by: The Decision Maker - Finance editors)
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