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Eurozone Consumer Confidence At 7-month High In May

Eurozone consumer confidence rose more-than-expected in May to its highest level in seven months, after weakening in the previous month, flash data from the European Commission showed on Tuesday.

The flash consumer confidence index climbed to -6.5 from -7.3 in April, which was revised from -7.9. Economists had expected a score of -7.7.

The latest reading was the highest since October, when the score was -5.9.

The consumer confidence index for the EU gained 1.1 points to -6.2 in May.

Both indicators were above their long-term averages of -10.7 and -10, respectively.

The final figure for consumer confidence is scheduled to be released along with the economic sentiment index data on May 28.

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