Eurozone Consumer Confidence Falls to Fresh Low

Consumer confidence in the Eurozone declined in July due to the increasing cost of living and a slowdown of the economy, falling to its lowest level on record.

The European Commission said Wednesday that its measure of consumer confidence in the region fell to minus 27.0 in July from a revised figure of minus 23.8 in June.

This month’s estimate for the EU aggregate is calculated on the basis of consumer survey data from 26 EU countries, covering 98% of total private final consumption expenditure, while for the eurozone indicator all 19 states are covered.

European consumer confidence fell in July, by 3.2 points in the euro area and three points in the European Union (EU) as a whole, reaching the “lowest level ever” in both.