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8 Jan 2020
EU: Consumer Confidence drops to -8.1 in December as expected
- Consumer Confidence in December fell to -8.1 in eurozone.
- Economic Sentiment Indicator recovered slightly in same period.
- EUR/USD struggles to recover its losses after mixed data.
Consumer sentiment continued to weaken in the euro area in December with the European Commission's Consumer Confidence Index dropping to -8.1 from -7.2 in November. This reading came in line with market expectation.
Further details of the publication revealed that the Industrial Confidence fell to -9.3 and the Business Climate slumped to -0.25 with both figures falling short of analysts' estimates.
On a positive note, the Economic Sentiment Indicator improved to 101.5 from 101.2.
The EUR/USD pair edged lower on these data and was last down 0.15% on the day at 1.1135.