Eurozone consumer confidence slumps again

Eurozone consumer confidence slumps again

2014-09-22 18:00

Berlin - Consumer confidence in the eurozone fell for the fourth-consecutive month in September as economic uncertainty surrounding the 18-member currency bloc deepened, a survey released Monday showed.

The mood among households fell to a lower-than-forecast minus 11.4 this month from minus 10 in August, according to the European Commission's closely watched survey.

Analysts surveyed by dpa-AFX had predicted a more modest decline to minus 10.5.

The embattled eurozone economy is struggling to remain on a growth path as high unemployment and budget cuts in cash-strapped parts of the region dampen consumer spending.

More recently, global tensions, notably between the West and Russia over Ukraine, have weighed on the economic sentiment in the eurozone, raising concerns about the outlook for the currency bloc's exports and private investment.

Consumer confidence in the 28-member European Union dropped 1.6 points to minus 8 in September, the commission said.