Consumer confidence in the Eurozone has experienced an unexpected decline in January, with the preliminary report showing a flash estimate of -16.1, which is lower than the forecasted -14.3 and the previous month's -15.0. This drop signals a challenging start to the year for the Eurozone, where the two largest economies are already facing shrinking private-sector activity. The decline in consumer confidence coincides with a surge in Eurozone inflation, adding to the economic pressures as the region likely ended 2023 in a recession. The economic sentiment is reflected in the macroeconomic indicator $MACRO.
Euro-area consumer confidence unexpectedly declined in January, signaling a gloomy start to the year for the 20-nation economy after 2023 likely ended in recession https://t.co/dIaBB8G85J
Euro-area January consumer confidence unexpectedly drops https://t.co/Lo310eFTaC via @WindSonja https://t.co/n5C6FUPMt8
The euro areaβs two biggest economies suffer a difficult start to the year, with private-sector activity shrinking https://t.co/TAXj3a5m7T
Consumer confidence in EU economy wanes amidst eurozone inflation surge https://t.co/FrSdpIpG31 https://t.co/ll5UdbTeyE
π΄ EUROZONE CONSUMER CONFIDENCE JANUARY PRELIM REPORT https://t.co/Epj8f6aw64
π΄ EUROZONE CONSUMER CONFIDENCE FLASH ACTUAL -16.1 (FORECAST -14.3, PREVIOUS -15.0) $MACRO