Bert Colijn, Senior Economist at ING, explained that Eurozone consumer confidence rebounded in April but warned that underlying data reveals deterioration in consumer sentiment.
Key Quotes:
“The ZEW Index dropped sharply earlier this week but consumer confidence rebounded quite surprisingly. Even though worries about the global economy have been increasing on the back of trade war concerns and a higher oil price, there is still a lot to like for the Eurozone consumer.”
“While consumers may not be on cloud nine anymore, the economic environment remains positive for consumption.”
“Last month, consumer confidence was stable at 0.1, but underlying data revealed another deterioration in consumer sentiment. The lower expectations for inflation count positively in the indicator, making up for deteriorating views on the global economy, personal finances and chances of unemployment.”
“Uncertainty in the global economy stemming from trade war concerns seems to play an important role here.”
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