PARIS (MNI) – Much as expected, Eurozone consumer morale recovered
slightly again in February, according to the European Commission’s
preliminary estimate released Tuesday.
After a 0.6-point upturn in January interrupted an 11.3-point slide
since June, the sentiment indicator gained another half point in
February to -20.2 — still eight points below the long-term average.
Most analysts surveyed by Market News International had expected
relatively little change on the month but were split on the direction.
The median forecast was -20.0 in a range of -21.0 to -19.5.
Last month’s flash estimate for January was revised down marginally
to show a 0.6-point monthly upturn. Households’ assessment of recent
economic trends was less negative and unemployment fears subsided
somewhat. Although expectations for future finances eroded further,
consumers hoped to be able to save more and buy more big-ticket items.
Concerning car purchases alone, however, buying-propensity fell to an
all-time low.
The final sentiment figure for February, along with the other
components of the Commission’s comprehensive business survey, should be
released next week.
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