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Eurozone consumer confidence improved slightly in May

May 23, 2023
1 min read

Official data showed on Monday that consumer confidence in the euro zone improved 0.1 points in May, compared to the figure recorded in April.

The European Commission said a flash estimate showed consumer sentiment in the single currency bloc improved to -17.4 this month from -17.5 in April.

Economists polled by Reuters had expected a rise to -16.8.

Consumer sentiment across the European Union rose 0.6 points to -18.3.

The annual inflation rate in the eurozone rose to 7% last April, in line with expectations, from 6.9% the previous month, as prices continue to be bullish in the twenty countries that share the euro .

On a monthly basis, the inflation rate in the eurozone fell more than expected to 0.6% in April, from 0.9% in March, while expectations were for 0.7%.

Inflation in the euro zone slowed the most in March to 6.9%, as energy prices fell to the lowest level in a year, after peaking at 10.6% in October.

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Arab Desk

Arab Desk

The Eastern Herald’s Arab Desk covers the Middle East and Arab world, including Gaza, Israel-Palestine, Lebanon, Hezbollah, Iran, regional conflicts, diplomacy and political developments shaping the region.

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