Eurozone consumer sentiment improved more than expected

The Eurozone Consumer Confidence Index for 2024/7 rose 1.0 point from the previous month to -13, a high level since 2022/2, and exceeded market expectations of -13.4 (initial forecast).

The recent rate cuts carried out by the European Central Bank in June due to a gradual deceleration in the inflation rate have spurred optimism.

The market is optimistic about additional interest rate cuts in September and December.

Also, in France, as a result of parliamentary elections, concerns about one-party supremacy have changed to a legislative impasse, and political concerns have abated.

In the European Union (EU) as a whole, consumer sentiment also rose 0.7 points to -12.2.

Source: European Commission