Jan 23, 2023
Euro-Area Consumer Confidence Rises to Highest in Nearly a Year
Bloomberg News
,(Bloomberg) -- Consumer sentiment in the euro area rose to the highest level since last February, a sign of resilience as the region seeks to dodge recession this year.
The gauge of confidence increased to -20.9 in January from -22.2 the previous month, according to the European Commission. That’s slightly weaker than the median forecast of economists, who anticipated a pickup to -20.
Eurogroup head Paschal Donohoe, who chairs the group of finance chiefs from the 20-member euro zone, said last week the currency bloc is resilient and is likely to avert recession with a very low level of growth this year.
Commission Vice President Valdis Dombrovskis told Bloomberg Television that falling gas prices and recovery fund spending may help the European Union dodge recession.
--With assistance from Barbara Sladkowska and Joel Rinneby.
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