Consumer Confidence Declines, but Economic Confidence Increases
Skerdian Meta • 1 min read
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.