Consumer confidence improves in the EU

In June 2020, the DG ECFIN flash estimate of the consumer confidence indicator continued last month’s recovery in both the euro area and the EU. 

The indicator rose 4.1 points to -14.7 pts from -18.8 in the euro area, while it was expected at -15.0 pts. In the EU, it went up 3.9 pts to -15.6.

However, both indicators remain well below their long-term averages of −11.1 (euro area) and −10.5 (EU). 

The indicator in May was the lowest recorded since the 2008 financial crisis in both the EU and the euro area.