Mediafax (Mediafax)
Macroeconomics  |  July 23, 2012 05:30:05

Brussels notify details of the July consumer confidence in the euro area (July 23, 2012)

BRUSSELS (MEDIAFAX) - European Commission (EC) on Monday published data on consumer confidence in the euro area in July. This is slightly worse in June when its index for the euro area fell to minus 19.6 points.

In May consumer confidence index reached the value of the euro area minus 19.3 points.

Index for the entire European Union, then in June fell to minus 19.5 points in May from minus 19.4 points.

Consumer spending in the euro area overall economic production account for more than half, while a considerable impact on them of government austerity measures and high unemployment, negative impact.

According to analysts, the strong consumer demand is crucial for sustainable economic growth. "Consumer confidence in the euro area will fall slightly to minus 20.0 points. It is logical, since the unemployment rate in the euro area is growing, and prospects are also very bad.Consumers are in a depression. Those who could spend, rather create a financial reserve, the rest can not spend more, not because wages do not grow too, "said the agency Mediafax financial markets analyst at Next Finance Martin Prokop.

Tomáš Králíček,

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