Despite a slight fall in July, euro-zone consumer confidence remains at a high level. But this hasyet to be reflected in a significant rise in spending growth. This might be because consumers’optimism relates more to the wider economic outlook than to their own finances. Note too that therecent improvement has partly reflected a growing intention to save, which bodes ill for spending.With labour market conditions barely improving and consumer credit weak, we expect the eurozoneconsumer recovery to be relatively modest.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services