The European Commission (EC) said on Wednesday its flash estimate showed the consumer confidence indicator for the Eurozone recovered by 3.2 points to -18.8 in May from a revised -22.0 in the previous month (originally, -22.7). Economists had expected the index to worsen to -24.0.

Considering the European Union (EU) as a whole, consumer sentiment improved by 2.5 points to -19.5.

Despite this month's gains, both indicators remained well below their long-term averages of -11.1 (Eurozone) and -10.4 (EU).