Eurozone consumer confidence falls to -17.9 points in October, below expectations
Key Facts
The eurozone’s preliminary consumer confidence indicator fell to -17.9 points in October, the European Commission said, weaker than the -17.0 forecast by economists polled by Reuters. This put the indicator below expectations, amid continued pressure on household sentiment. In a separate survey, the Conference Board said eurozone consumer confidence declined for a second consecutive month. The board linked the pressure facing households to a renewed rise in prices and slower wage growth. It also cited uncertainty about the impact of higher energy prices on the growth outlook.
A breakdown of the Conference Board survey showed that households’ expectations for major purchases over the next twelve months fell to -29.7 points in October, from -23.4 in September. The board described the reading as the lowest since early 2024, pointing to households’ reduced willingness to spend on goods that require large outlays. Expectations remained in negative territory in both months, but October’s reading fell further compared with September. This development puts household spending under pressure from weaker consumer sentiment. These figures are part of the Conference Board survey, while the preliminary official indicator reading comes from the European Commission.
Elsewhere in the survey, households’ expectations for the general economic situation over the next twelve months improved marginally to -43.8 points in October, from -45.2 in September. The limited improvement suggests households’ assessment of the overall economy became less negative than in the previous month, although the indicator remained in negative territory. This move coincided with a decline in intentions to make major purchases, which reached their lowest level since early 2024. The Conference Board said households face renewed price pressures and slower wage growth, alongside uncertainty over the impact of energy prices on growth. The survey components therefore present a mixed picture of household expectations, with a slight improvement in the broader outlook and a clearer weakening in plans for major spending.
On the upcoming economic data calendar, the eurozone’s October flash estimate of the harmonised index of consumer prices is due on 4 November 2026, according to the European Central Bank calendar. The final release of the index data for the same month is due on 18 November. Investors are also awaiting retail sales data on 6 November, covering September 2026. These releases will provide further indicators of prices and spending during the period, following the decline in households’ intentions to make major purchases. The Conference Board said the November confidence reading will be important for businesses, as it coincides with the European elections; the statement did not specify a forecast for that reading.