The European Commission reported on Wednesday its flash estimate showed the consumer confidence indicator for the Eurozone decreased 0.5 points to -7.1 in August from the previous month.

Economists had expected the index to fall to -7.0.

Considering the European Union (EU) as a whole, consumer sentiment also dropped 1.1 points to -7.0.

Despite these declines, both indicators remain on a broadly horizontal trajectory well above their respective long-term averages of -10.7 (Eurozone) and -10.0 (EU), the report said.