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Eurozone consumer confidence posts greater-than-expected rise in September

Consumer confidence in the eurozone edged up 0.6 points month over month to negative 6.5 points in September, according to the European Commission's flash estimate.

The consensus estimate of economists polled by Econoday was for a reading of negative 7.0 points in September.

In the wider EU, consumer confidence ticked up 0.6 points month over month to negative 6.4 points.

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

The latest consumer confidence data follows cuts to the German, U.K. and global economic growth forecasts by the ifo Institute, the Organisation for Economic Co-operation and Development, and the World Bank Group, respectively.