EU Consumer Confidence Down 0.4 Points In May

The consumer confidence indicator in the EU declined 0.4 points to -22.2 in May, from the previous month, the European Commission announced on Friday.

The indicator, which measures the level of consumer confidence in economic activity that can predict consumer spending, was expected to come at -21.5 in May.

The consumer confidence indicator in the euro area, on the other hand, rose 0.9 points to -21.1 in May, compared to the month before.

However, both indicators remain well below their long-term average.

The European Commission also said the economic sentiment indicator in April declined 1.7 points in both the EU and the euro area, to 104.9 and 105.0 points, respectively.

The employment expectations indicator in April also decreased 1 point to 111.7 in the EU and 1.1 points to 112.4 in the euro area. -