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Eurozone Consumer Confidence At 5-month Low

Eurozone consumer confidence weakened more-than-expected to its lowest level in five months in October, preliminary figures from the European Commission showed on Thursday.

The flash consumer confidence index for the euro area dropped to -15.5 from -13.9 in September. Economists had expected a fall to -15.0.

The reading was the weakest since May, when it was at -18.8.

The consumer confidence index for the EU also fell to a five-month low, down to -16.5 from -14.9 in the previous month.

Both readings were below their long-term averages of -11.2 and -10.6, respectively.

Data for the survey was collected from October 1 to 21.

The final reading for the consumer confidence index is set to be released on October 29 along with the monthly economic sentiment survey results.

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