Eurozone’s consumer outlook remains stuck in the doldrums

City A.M. Reporter
EUROZONE consumer confidence improved marginally in March from last month, but lagged behind forecasts of a stronger bounce, figures released yesterday showed.

The European Commission said a flash estimate Eurozone consumer morale was minus 23.5, a fraction up from minus 23.6 in February. A poll of economists had expected a rise to minus 23.3.

Making up over half of Eurozone economic output, consumer spending has remained constrained as Europe’s debt crisis limits household incomes, slowing economic recovery.

“It is somewhat disappointing that consumer confidence has really failed to build on a spike that was seen in January,” said Howard Archer, chief UK and Europe economist at IHS Global Insight.

In the wider 27-member European Union, March consumer sentiment was unchanged from the last month at minus 21.6.