Economic Buzz: Eurozone consumer confidence worsens in October

The consumer confidence indicator in both the euro area and the entire European Union worsened in October, the European Commission's final report showed on Thursday, confirming the preliminary data. Euro area consumer confidence fell to negative 17.9 points in the tenth month of the year, down from negative 16.8 the month before. Across the whole EU, it dropped to negative 17.3 points from negative 16.1 in September.

The Economic Sentiment Indicator (ESI) retreated by 0.6 points to 96.9 in the EU and the euro area. On the other hand, the Employment Expectations Indicator (EEI) went up 0.6 points in the EU to reach 98.9 and advanced 0.7 points to 98.2 in the euro area reflecting significant increases of employment plans in retail trade and industry.

Consumer confidence weakened for the second month in a row ? driven by a deterioration in consumers' assessments of their household's past and expected financial situation, as well as a decline in their intentions to make major purchases, the Commission said.

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