Eurozone consumer confidence fell to a 5-month low in January as the single currency area struggled to contain a sovereign debt crisis, data showed on Thursday. The European Commission said in a flash estimate that consumer morale in the 17-country currency area was at -11.4 in January, down from -11.0 in December.
In the wider 27-nation European Union, consumer sentiment declined to -12.8 from -12.1. Analysts say strong private demand is crucial for making eurozone economic growth self-sustaining. But austerity measures ordered by many governments and turmoil on financial markets limits such consumer demand.