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Consumer Confidence in Eurozone Jumps to 16-Year High
Consumer confidence in the eurozone’s economy has climbed to its highest level since April 2001, according to the European Commission.
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Consumer confidence in the eurozone’s economy has climbed to its highest level since April 2001, according to the European Commission.
Today’s flash report indicates the EC’s index rose to minus 1.0 in October from minus 1.2 in September, continuing a steady improvement in sentiment over the past 12 months. The index’s long-term average is -12.5, and it was at about -26 in mid-2012.
The eurozone’s economy has been expanding since mid-2013, and the increase began accelerating this year. Analysts say this month’s index suggests the European Central Bank will further reduce its economic stimulus program by shrinking the volume of bonds it buys beginning in January.
Analysts predict the bank will phase out bond purchases entirely by the end of next year. They also expect the ECB will increase the prime lending rate, currently at -0.4%, in early 2019.
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