(RTTNews) - Eurozone declined significantly in August and was well below economists' expectations, preliminary data released by European Commission showed Tuesday.
The flash consumer confidence index for euro area dropped to -16.6 from July's -11.2. Economists had forecast the index reading to fall to -11.2. The index declined for the second consecutive month and is at the weakest level since May 2010, when it was -18.
The sentiment index for the entire EU also decreased sharply in August. The score fell to -16.8 from -12.4 in July.The final reading for consumer confidence will be published along with overall economic sentiment index data on August 30.
Read more at: IronFx
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