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Eurozone consumer confidence falls more than expected in October

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Eurozone consumer confidence falls more than expected in October

Consumer confidence in the eurozone fell more than expected in October, following an improvement last month, according to the European Commission's flash estimate.

The indicator dropped 1.1 points month over month to negative 7.6 points in October. The consensus estimate of economists polled by Econoday was for a reading of negative 6.7 points.

In the wider EU, consumer confidence edged down 0.9 point month over month to negative 7.3 points.

Both eurozone and EU consumer confidence indicators were still above their respective long-term averages of negative 10.7 and negative 10.0.