Consumer Confidence Remains Unchanged in Europe, but Components Improve
Skerdian Meta•Thursday, February 27, 2020•1 min read
The final reading of the consumer confidence report for February was released earlier this morning from the Eurozone. Consumer confidence and investor sentiment deteriorated last year and turned quite negative, as the Eurozone economy slowed down, although they have been increasing in recent months. Investor sentiment has turned positive, but the consumer confidence remains negative still. Below is the report with the components:
- Eurozone February final consumer confidence -6.6 vs -6.6 prelim
- Economic confidence 103.5 vs 102.8 expected
- Industrial confidence -6.1 vs -7.2 expected
- Business climate indicator -0.20 vs -0.25 expected
- Services confidence 11.2 vs 11.0 expected
There is an improvement in the headline number from January, but the final reading remains unchanged from the initial one. So, some more good news for the euro today as economic confidence rises to its highest level since May last year.
The components are all higher nonetheless, with economic and industrial confidence improving in the final reading. This is a positive thing, that despite the outbreak of coronavirus, the sentiment is improving, although March will be more important, because the virus has just started spreading in Europe.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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