Consumer confidence in the Eurozone saw an uptick for the first time in three months this January, according to preliminary data revealed by the European Commission on Thursday. However, the index remains negative, reflecting continued pessimism among consumers.
The initial reading of the consumer confidence index for the Eurozone inched up to -14.2, a slight improvement from -14.5 in December, aligning with economists' predictions. Meanwhile, the similar index for the broader European Union remained unchanged at -13.3 after declining in the preceding two months.
Despite the modest rise, both indices persist below their long-term average levels. The survey, conducted between January 1 and 22, underpins these findings.
The European Commission is expected to release the final figures for Eurozone consumer confidence on January 30, coinciding with the publication of the monthly economic sentiment survey results.
