November’s Eurozone Consumer Confidence Deteriorates

Consumer confidence in the Eurozone has dropped in November for the second successive month as rising COVID-19 cases and higher energy prices in addition to surging inflation dented consumers’ moods and continued to worry citizens, as the Euro hit a 21-month low against the sterling.

The European Commission said Monday that its measure of consumer confidence in the single-currency area decreased to minus 6.8 in November from minus 4.8 in October, the lowest level since April.

Germany’s Bundesbank has warned that inflation could soon approach 6%, and that growth in Europe’s largest economy may faltered this quarter. The US is still battling high inflation and tries to recover jobs lost in the pandemic.