According to the final report from the European Commission, consumer confidence in the eurozone deteriorated slightly in June, returning to its lowest level since November 2023, reached in April.
The consumer confidence index fell to -15.3 points compared to -15.1 points in May. The latest figure was in line with the preliminary estimate and economists' forecasts. Meanwhile, the economic sentiment indicator (ESI) fell to 94.0 points from 94.8 points in May. Consensus estimates suggested an increase to 95.1. The employment expectations indicator rose 0.1 points to 97.1 points.
As for the EU countries, the economic sentiment indicator decreased by 1.0 points to 94.0 points, and the employment expectations indicator remained at 97.5 points. The decline in the economic sentiment indicator was primarily driven by reduced confidence in the industry sector, with retail trade contributing to the downturn to a lesser degree. Confidence in the services sector and among consumers remained broadly stable, while construction confidence continued to pick up. Among the largest EU economies, the ESI dropped most significantly in France (-3.4), followed by Spain (-1.4) and Germany (-0.8). Conversely, the economic sentiment indicator increased in Poland (+1.0) and remained broadly stable in Italy and the Netherlands (+0.2 each).
The data also showed that the indicator of economic uncertainty fell by 2.0 points in June, to 16.4 points. Managers’ uncertainty about their future business situation reduced notably in the services, construction, and industry sectors, while remaining stable among managers in retail trade. Consumers’ uncertainty about their future financial situation also decreased in June.