The economic confidence of consumers and businesses in the European Union fell sharply again in september due to concerns about high inflation, the energy crisis and a recession. This was reported by the European Commission on the basis of its confidence index. Economic sentiment in the eurozone has also deteriorated.
The Commission speaks of a significant deterioration in sentiment in all business sectors, namely industry, retail, services and construction. There was also another strikingly sharp drop in consumer confidence to a new low, says the commission. For example, the Central Bureau of Statistics (CBS) has already reported that Dutch consumer confidence is at its lowest level ever.
Within the EU’s largest economies, confidence fell mainly in Germany, but also in the Netherlands, Italy, France and Poland. In Spain, the weakening of confidence remained limited, the commission said.