The consumer confidence indicator for the Euro Area was confirmed at -6.2 in December 2018, the weakest reading since February 2017, due to a deterioration of all its components, i.e. consumers' unemployment and savings expectations and their views on their future financial situation and the future general economic situation. In the European Union as a whole, the consumer sentiment index declined to -6 in December, the lowest since October 2016. Consumer Confidence in the Euro Area averaged -11.72 Index Points from 1985 until 2018, reaching an all time high of 2 Index Points in May of 2000 and a record low of -34.70 Index Points in March of 2009.
Consumer Confidence in Euro Area is expected to be -10.80 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 -4.20 in 12 months time. In the long-term, the Euro Area Consumer Confidence is projected to trend around -6.60 Index Points in 2020, according to our econometric models.