Euro area consumer confidence falls below forecasts in November
Consumer confidence in the Eurozone retreated again in November, in what economists termed a "disappointing" reading.
The European Commission's gauge of consumer confidence for the euro area slipped from a reading of -2.7 for October to -3.9 in November, falling short of the consensus forecast for a reading of -3.0.
"A disappointing reversal following the small increase last month. Volatility in financial markets and rising uncertainty over global growth are the only obvious reasons for the big decline," said Claus Vistesen, Eurozone chief economist at Pantheon Macroeconomics.
"We need to see details on the split between the outlook for consumers’ own situation and the economy as a whole to get a clearer picture."