The Straits Times
Published on Nov 22, 2012

Euro zone consumer confidence falls in November


BRUSSELS (REUTERS) - Consumer confidence in the euro zone fell this month compared to the previous month, the first estimate from the European Commission showed on Thursday.

The Commission said consumer confidence in the 17-member euro zone slipped to -26.9 this month from a revised October figure of -25.7.

Consumer spending accounts for more than half of the euro zone's economic output, but with the effects of the debt crisis cutting disposable income, households have been in no position to contribute much to economic recovery.

In the wider 27-member European Union, consumer sentiment improved a fraction, to -23.7, compared to -24.3 last month.