Consumer confidence in the Eurozone ticked up this month, according to figures released today.
The flash consumer confidence indicator compiled by Eurostat, the statistical office of the European Union, climbed 0.2 points to a score of minus 5.7. Flash data is an estimate based on a
The rise builds on November's surge and shows consumers are more confident than at any point between the start of 2008 and the end of 2014.
Confidence Eurozone consumers are helping to buoy the economy this year. Year-on-year retail sales growth has been rising steadily and was 2.5 per cent in October.
"We suspect the modest increase in consumer sentiment is due to the renewed fall in oil prices—boosting real income—and the prospect very low interest rates for longer following the increase in monetary stimulus by the ECB," said economist Claus Vistesen from Pantheon Economics, a consultancy.