The European Commission (EC) reported on Thursday its flash estimate showed the consumer confidence indicator for the Eurozone fell by 1.1 points to -4.4 in July from an unrevised -3.3 in the previous month.

Economists had expected the index to increase to -2.5.

Considering the European Union (EU) as a whole, consumer sentiment also deteriorated by 1.1 points to -5.6.

Despite this month’s declines, both indicators remained above their pre-pandemic levels.