Consumer Confidence Declines, but Economic Confidence Increases

Consumer confidence remains quite bad in Europe, while business confidence is increasing

Skerdian Meta•Thursday, January 28, 2021•1 min read

Economic situation looks mixed in Europe

With the new restrictions in force on the continent, consumer confidence continues to decline throughout Europe, coming at -15.5 points for January. However, economic confidence increased this month, from 89.6 points to 91.5. This increase in economic confidence came from the manufacturing sector, which has been surging in recent months, while the closure of services is affecting consumer confidence.

Eurozone January Final Consumer Confidence

January final consumer confidence -15.5 vs -15.5 prelim
Economic confidence 91.5 vs 89.6 expected
Prior 90.4; revised to 92.4
Industrial confidence -5.9 vs -7.0 expected
Prior -7.2; revised to -6.8
Services confidence -17.8 vs -18.5 expected
Prior -17.4; revised to -17.1

The economic confidence beat the estimates, but eased slightly from the higher revision towards the end of last year. The extension of tighter virus restrictions is still tempering with optimism in Q1 in general, but the outlook for the rest of the year remains more or less intact.

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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.