Back to normal; euro household sentiment up for fourth month

20 July 2023

 

Summary: Euro-zone household pessimism improves in July; consumer confidence index still noticeably below long-term average, just within lower bound of “normal” readings; euro-zone yields increase materially. EU consumer confidence plunged during the GFC and again in 2011/12 during the European debt crisis. After bouncing back through 2013 and 2014, it fell back significantly in late 2018 but only to a level which corresponds to significant optimism among households. Following the...

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