EU consumer confidence undermined by new Covid cases in November

Consumer confidence in the euro zone worsens in the face of rising Covid cases. In detail, in November the consumer confidence index went from -4.8 to -6.8. “It seems that consumers are increasingly worried and their uncertainty revolves around two big problems. The first concerns the latest wave of Covid cases that risks causing further lockdowns, and the second the increase in inflation, which could translate into weaker spending this quarter, “commented ING experts.