"Consumer confidence dropped from -6.6 to -7.1, slightly above the June reading of -7.2. Confidence continues to zigzag as optimism about current personal finances and jobs is combined with pessimism about the general economic outlook," notes ING's senior economist for the eurozone, Bert Colijn.
"The eurozone consumer continues to be in limbo about where things are headed, which leads to caution about the future. The current situation for consumers is not that bad, with unemployment at low levels and rising wage growth. Inflation also remains at favourable levels at the moment, leading to a positive environment for household finances."
"Dark clouds are hovering above the consumer though as concerns about a recession increase. Even though no breakdown of the underlying questions has been released so far, the recent trend shows a consumer who is worrying more about unemployment in the coming year. Increasing concerns about a no deal Brexit, the Italian government, the trade war and an economy slowing down are no doubt also fuelling pessimism among consumers."
"While August’s move was down again, the overall movement in consumer confidence has been sideways this year and this reading seems to be in line with that trend. This is consistent with continued subdued consumer spending, helping GDP growth to remain positive this quarter."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.