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Voxpress:

European consumers lose faith in the EU economy

2024-01-24 11:56:36Biznes SHKRUAR NGA REDAKSIA VOX

European consumers lose faith in the EU economy

After the recent rise in eurozone inflation, consumers say they are losing faith in the EU economy. This perception is confirmed by the latest Indicators of consumer economic sentiment for January 2024.

The flash estimate of the euro area consumer confidence indicator fell to -16.1 in January 2024, down 0.9 from December's figure.

In the eurozone, the indicator measures how optimistic people feel about the economy, rating confidence on a scale of -100 to 100. The figure -100 indicates very low confidence, 0 is neutral and 100 points for high confidence.

The survey includes 23,000 households in the eurozone, with questions focusing on views on the current economic and financial situation, savings plans and expectations on issues such as consumer prices and general economic conditions.

Within the European Union as a whole, the same indicator was recorded at -16.2 for this current month, falling by 0.2 in December 2023.

While the EU includes countries that meet specific membership and membership criteria, the eurozone includes those countries that use the euro as their national currency.

The results come as the euro area's annual inflation rate reached 2.9% in December 2023, up from 2.4% in November. 


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