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Eurozone Consumer Confidence At 13-month High

Euro area consumer confidence rose faster than expected in March to its highest level in over a year, preliminary survey data from the European Commission showed Wednesday.

The flash consumer confidence index climbed to -10.8 from -14.8 in February. Economists had expected an improvement to -14.5.

The latest reading for Eurozone was the strongest since February 2020, when it was -6.4.

The consumer confidence index for the EU rose to -12.1 from -15.7, marking the strongest reading since March 2020.

Both indicators are approaching their long-term averages of -11.1 and -10.6, respectively, the commission said.

The survey data was collected from March 1 to 23.

The final figures is set to be released along with the monthly economic sentiment survey results on March 30.

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