In its latest Business and Consumer Surveys, the European Commission said that the flash consumer confidence indicator in the euro area rose by 0.5 points to -7.4 in February and came in slightly better than the market expectation of -7.8.
“At −7.4 points (euro area) and −7.2 points (EU), both indicators are well above their respective long-term averages of −11.3 (euro area) and −10.5 (EU),” the EC noted in its publication.
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