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“In September 2018, the DG ECFIN flash estimate of the consumer confidence indicator decreased in both the euro area (−1.0 point to −2.9) and the EU (−1.0 point to −2.8) compared to August,” the European Commission found in its latest business and consumers survey. This figure fell short of the market expectation of -2 and was the worst reading since May of 2017.

“In August, the Economic Sentiment Indicator(ESI) decreased slightly in the euro area (by 0.5 points to 111.6), while it remained stable in the EU (at 112.3),” the EC added in its publication.