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Eurozone Consumer Confidence Picks Up

Euros

Consumers in the eurozone became slightly more upbeat in December, in a development that probably reflects the boost to real incomes from falling oil prices. Yesterday the European Commission said its preliminary measure of consumer confidence rose to minus 10.9 this month from minus 11.5 in November. The consensus forecast of 15 economists surveyed by the Wall Street Journal last week was for a rise to minus 11.0. Consumer spending has edged higher in the eurozone as the inflation rate has fallen in recent quarters, with spending expanding by 0.5% in Q3, having increased by 0.3% in Q2 and 0.2% in Q1.

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