Eurozone consumer confidence at 13-month high

EU

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Euro area consumer confidence rose faster than expected in March to its highest level in over a year, preliminary survey data from the European Commission showed, according to a report by RTT news.

The flash consumer confidence index climbed to -10.8 from -14.8 in February. Economists had expected an improvement to -14.5.

The latest reading for Eurozone was the strongest since February 2020, when it was -6.4. The consumer confidence index for the EU rose to -12.1 from -15.7, marking the strongest reading since March 2020.

Both indicators are approaching their long-term averages of -11.1 and -10.6, respectively, the Commission said. The survey data was collected from March 1 to 23. 

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