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Eurozone Consumer Confidence Recovers Slightly In May

Eurozone consumer confidence recovered slightly in May as several countries in the single-currency bloc started easing restrictions placed during the lockdown to slow the spread of the coronavirus, or Covid-19, flash estimates from the European Union showed on Wednesday.

The flash consumer confidence index for euro area climbed to -18.8 from -22.7 in April. Economists had expected a further weakening to -24.

The corresponding index for the EU rose to -19.5 from -22 in the previous month.
However, both indicators remained far below their long-term averages of -11.1 and -10.4, respectively.

The European Commission is set to publish the detail data along with the full business and consumer survey results on May 28.

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