Eurozone consumer confidence so far in May
According to a report from the European Commission, the Eurozone Consumer Confidence Index stands at 0.2 so far in May as compared to 0.4 in April 2018. The reading was in line with the market expectations of 0.2.
The index measures the level of confidence consumers have in the economy. The consumer confidence index so far in May improved at a softer rate as compared to April 2018.
Although households increased consumer activity in May, the rising uncertainty about Italy and Spain’s political environment affected economic activity in the whole Eurozone economy. Major markets in the Eurozone also witnessed nervousness due to this reason. To have a better economic environment, the economy must have a sound political environment, which will help the country in various policy-making decisions.
Major ETFs of the Eurozone (N100-INDEX) such as the Vanguard FTSE Europe ETF (VGK) and the iShares Europe ETF (IEV) fell 4.2% and 3.9%, respectively, so far in May 2018. The iShares MSCI Germany ETF (EWG), which tracks the performance of Germany, and the iShares MSCI France ETF (EWQ), which tracks the performance of France, fell 3.9% and 4.3%, respectively, so far in May as of May 29.
In the next part of this series, we’ll analyze the performance of the German Ifo Business Climate Index so far in May 2018.