The consumer confidence indicator for the Euro Area rose by 0.8 points to -6.5 in May 2019, the highest reading since last October and above market expectations of -7.7, a preliminary estimate showed. Considering the European Union as a whole, consumer sentiment increased by 1.1 points to -6.2. Both indicators are well above their respective long-term averages of -10.7 (euro area) and -10.0 (EU). Consumer Confidence in the Euro Area averaged -10.62 Index Points from 1985 until 2019, reaching an all time high of -1.90 Index Points in May of 2000 and a record low of -24.40 Index Points in March of 2009.
Consumer Confidence in Euro Area is expected to be -7.60 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Euro Area to stand at -7.80 in 12 months time. In the long-term, the Euro Area Consumer Confidence is projected to trend around -3.60 Index Points in 2020, according to our econometric models.