Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  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
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
Latest news
Date Title
07:07a BIDVEST : The Premier Soccer League season is finished and klaar
07:06a Trump sees to slash government spending in budget plan
07:05a DKSH and Boehringer Ingelheim improve access to treatment in Myanmar
07:05a General Meeting of Kuros approves all resolutions
07:05a PHOTOCURE ASA : Results for the first quarter of 2017
07:05a GROUPE GORGE : Over-allotment option for Prodways Group, a subsidiary of Groupe Gorgé, IPO exercised in full
07:05a PRODWAYS : Over-allotment option for prodways group ipo exercised in full
07:05a Q4 AND YEAR-END RESULTS FOR THE FINANCIAL YEAR 2016/17 : LEM confirms leading market position and strong profitability – dividend of CHF 35 per share proposed
07:03a AIRASIA BERHAD : Hosts The First Ever Santan Food Festival
07:03a GLOBAL TELECOM SAE : Press Release for 4GLTE spectrum
Latest news
Hot News 
0.00%PETROLEO BRASILEIRO PETROBRAS : Petrobras says plans to sell Jurua gas field in Amazon
-0.47%PETROLEO BRASILEIRO PETROBRAS : Petrobras Issues $4 Billion in Debt on International Markets
Most Read News
05/22 EXCLUSIVE : North American carmakers want rules of origin in NAFTA left untouched - Mexico lobby
12:04a AXAMANSARD INSURANCE : AXA Mansard Insurance Shareholders Get Five kobo Dividend
05/22 SRI LANKA TELECOM : SLT announces the “Zero One Awards Night” dedicated to recognize digital excellence in Sri Lanka.
12:04a NNPC : Military Options No Longer Effective in Maintaining Peace in N’Delta
05/22 SPORTSMAN WAREHOUSE : Shoplifters pull gun on Sportsman's Warehouse employee
Most recommended articles
05/22 NOBLE : shares tumble after S&P ratings downgrade
12:43a LESHI INTERNET INFRMTN&TECH BEIJING : China's LeEco to slash U.S. jobs amid global pull-back - source
12:25aDJOil Retreats Some Following Recent Pre-OPEC Gains
12:16aDJCHINA LIFE INSURANCE : Buys Sprawling Portfolio of Small-Market U.S. Real Estate
12:10aDJSAMSUNG ELECTRONICS : Ousted South Korean President's Corruption Trial Opens