Eurozone Consumer Confidence Weakens More Than Expected In August

(RTTNews) - Euro area consumer sentiment deteriorated more than expected in August to a four-month low, after a strong improvement in the previous month, preliminary results of the monthly survey by the European Commission revealed on Thursday.

The flash consumer confidence index for Eurozone dropped to -15.5 from -14.7 in July. The reading was the lowest since April when the score was -16.6. Economists had expected the index to fall modestly to -14.9.

The corresponding index for the EU was lower by 0.3 percentage points from July, at -14.8.

Consumer confidence continues to score well below its long-term average, the EU said. The survey data was collected from August 1 to 20.

The final results are set to be published along with those of the monthly economic sentiment survey on August 28.