Eurozone May flash consumer confidence -19.0 vs -20.8 expected

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Prior was -20.6For background, the Eurozone Consumer Confidence Indicator (CCI) is the European Commission's flagship monthly gauge of household sentiment across the 21 euro-area members and is one of the most closely watched real-time reads on the region's economy. Compiled by the Commission's Directorate-General for Economic and Financial Affairs (DG ECFIN), the index is built from harmonized consumer surveys covering households' assessments of their financial situation, the broader economic outlook, and intentions to make major purchases over the next 12 months. The Commission publishes a flash estimate in the final week of each month, followed by a final reading at month-end as part of the wider Business and Consumer Survey package that also includes the Economic Sentiment Indicator (ESI) and Employment Expectations Indicator (EEI). The CCI is expressed as a balance of positive and negative responses, so all readings tend to sit in negative territory; the long-run average is roughly -10. This article was written by Giuseppe Dellamotta at investinglive.com.