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Euro zone consumer confidence rises to -12.5 in October
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(Reuters) – Euro zone consumer confidence rose by 0.4 points in October from the September number, figures released on Wednesday showed.
The European Commission said a flash estimate showed euro zone consumer morale improved to -12.5 this month from -12.9 in September.
Economists polled by Reuters had expected a rise to -12.5.
In the European Union as a whole, consumer sentiment rose by 0.5 points to -11.2, having reached its long-term average for the first time since February 2022, the statement said.
For European Commission data click on:
(Reporting by Mateusz Rabiega in Gdansk)
Consumer confidence is a measure of how optimistic or pessimistic consumers are regarding their expected financial situation and the overall economic environment. It influences spending and saving behaviors.
The euro zone refers to the group of European Union countries that have adopted the euro as their official currency. It facilitates easier trade and economic stability among member nations.
A flash estimate is a preliminary estimate of economic indicators, such as GDP or consumer confidence, released shortly after the end of a reporting period. It provides an early insight into economic trends.
The European Commission is the executive branch of the European Union responsible for proposing legislation, implementing decisions, and managing the day-to-day operations of the EU.
Consumer morale refers to the overall sentiment of consumers regarding their financial situation and the economy. High morale typically indicates confidence in economic stability and growth.
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