Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Eurozone May Flash Consumer Confidence -3.3; April -3.6

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/19/2017 | 04:57pm CEST
By Paul Hannon 

The victory of a pro-European centrist in France's presidential election has delivered a further boost to already high consumer confidence in the eurozone.

The European Commission on Friday said its measure of consumer sentiment across the 19-member currency area rose to minus 3.3 in May from minus 3.6 in April, reaching its highest level since July 2007, more than a year before the onset of the global financial crisis.

Emmanuel Macron secured almost two-thirds of the vote in May 7 elections, defeating the anti-euro Marine Le Pen, who vowed to undertake contentious labor reforms in France as part of a push for greater economic convergence among the eurozone's fractious member states.

Mr. Macron's triumph followed March elections in the Netherlands that saw Prime Minister Mark Rutte defeat anti-euro populist candidate Geert Wilders. The French and Dutch votes reduce the threat of a breakup of the currency area, with German elections due later this year almost certain to return a pro-euro government.

Coming into 2017, it had seem possible that anti-euro politicians would gain ground and possibly triumph in a series of key polls, following voter revolts against the establishment in the U.K. and the U.S.

But while investors and policy makers appeared nervous, households have been less so, as the Commission's measure of consumer confidence continued to strengthen ahead of the crucial votes, and subsequently.

Rising consumer optimism since the middle of last year has been driven by a slow, but steady decline in unemployment as well as signs that the eurozone's economic recovery has become more deeply rooted and widespread.

More confident consumers tend to spend more freely, which would aid the recovery and in turn make anti-euro politicians less likely to triumph in the future. But the eurozone isn't out of the woods yet, as another populist storm is brewing in Italy, where the euroskeptic 5 Star Movement has remained strong and economic growth, has remained especially anemic.

Write to Paul Hannon at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
03:35a MICROSOFT : Showcases 25 #Insiders4Good Entrepreneurs at Graduation Ceremony
03:35a RED STAR EXPRESS : to Give Business Insights at ‘SME1000’ Forum
03:35a DEUTSCHE POST : DHL Express Says Employees Are Cornerstone of Its Success
03:34a VERIZON COMMUNICATIONS : Truckers crashed into sagging Verizon phone line attached to 1943 pole, suit says
03:34a CHINA EVERBRIGHT INTERNATIONAL : Everbright International’s Suqian Waste-to-energy Project and Suqian Food Waste Treatment Project Complete Construction and Commence Operation
03:34a JON TESTER : At Tester’s Urging, USDA Halts Importation of Brazilian Beef
03:33a HILL INTERNATIONAL : PennDot hires Hill to widen I-95 in Philly
03:33a Asian shares flat, still on track for winning week
03:33a BRASKEM : After approving $675M Texas investment, Braskem says don't count out Marcus Hook
03:32aDJSHIMAO PROPERTY : Issues US$450 Million Bonds Due 2022 at 4.75%
Latest news
Advertisement
Hot News 
8.57%ORACLE : profit beats as cloud shift gains steam, shares at record
-6.10%FOSUN INTERNATIONAL : Beijing Is Investigating Some of China's Top Overseas Deal Makers -- Update
2.32%GLAXOSMITHKLINE : GSK wins $235 million from Teva in Coreg patent trial
6.24%EXCLUSIVE : Sycamore Partners close to deal to acquire Staples - sources
16.40%IMAGINATION TECHNOLOGIES : in Takeover Talks
Most Read News
08:40p WARREN BUFFETT : 'Bailout' Buffett burnishes 'lender of last resort' image
08:18p EXCLUSIVE : China Unicom counts Alibaba, Tencent among investors in drive to raise $10 billion - sources
06:17p American Airlines pushes back on Qatar Airways plan to buy stake
07:59p TOSHIBA : to seek extension on financial filing Friday - Yomiuri
06:52p Biggest U.S. banks clear first hurdle in Fed's annual stress tests
Most recommended articles
09:32pDJSHIMAO PROPERTY : Issues US$450 Million Bonds Due 2022 at 4.75%
08:50p ZENITAS HEALTHCARE (ASX : ZNT) talks growth in community-based healthcare.
08:40p WARREN BUFFETT : 'Bailout' Buffett burnishes 'lender of last resort' image
08:19p Exclusive - China Unicom counts Alibaba, Tencent among investors in drive to raise $10 billion
07:59p TOSHIBA : to seek extension on financial filing Friday - Yomiuri