Enhanced consumer sentiment prevails within the Eurozone.
Eurozone consumer outlook improved marginally in October. The consumer confidence score climbed by 0.4 points to -12.5, as per statistics released by the EU Commission. This development was in line with analysts' forecasts. The figure now hovers close to its historical norm.
The excessive inflation that had been increasing residents' expenses is generally thought to have subsided. In September, the inflation rate had already dipped beneath the European Central Bank's 2% objective, settling at 1.7%. The European Central Bank has decreased interest rates three times in 2022 and may lower them further by year's end. However, according to EU Central Bank President Christine Lagarde, the Eurozone's economic performance hasn't been as strong as predicted. Consumption levels fell short of predictions.**
The subsidence in the inflation rate, as evidenced by the euro area's inflationary wave decreasing below 2%, has brought some relief to residents' expenditures. The improved consumer outlook in October could be a sign that the inflationary wave is starting to slow down within the euro area.
