Euro area consumer confidence falls 0.8 point in Oct

By Ovunc Kutlu

ANKARA (AA) - Consumer confidence in the euro area fell 0.8 points in October from the previous month, according to a flash estimate of the consumer confidence indicator released on Thursday by the European Commission.

The leading indicator, which can predict consumer spending, also measures consumer confidence in economic activity and now stands at minus 4.8 points.

Markets had expected the figure to decline to minus 5 points from its September level of minus 4.

In the EU, consumer confidence fell this month by 0.9 points from the previous month to minus 6.1 points.

The market estimate for the figure had been minus 6.4 points, while it had stood at minus 5.2 in September.

"The indicator remains close to or above its pre-pandemic level in both regions," the European Commission said.