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Eurozone Consumer Confidence Unexpectedly Improves In August

Euro area consumer confidence unexpectedly rose in August, amid fears of a second wave of coronavirus, or Covid-19, infections in some countries in the bloc, preliminary figures from the European Commission showed on Friday.

The consumer confidence index rose to -14.7 from -15 in July. Economists had expected the index to remain unchanged.

In June, the reading was at -14.7.

The consumer confidence index for EU edged up to -15.5 from -15.6 in July.

Both indicators remain well below their long-term averages of -11.1 and -10.5, respectively.

The final readings for August are scheduled to be released along with the monthly economic sentiment survey data on August 28.

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