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EU CONSUMER CONFIDENCE REACHES RECORD LOW

July 22, 2022

EU consumer confidence reaches the lowest ever recorded level in July, according to the latest data from the European Commission.

The new numbers show a decrease of 3 percentage points for the EU and 3.2 percentage points for the Euro Area.

The new levels surpass the lowest point reached during the beginning of the pandemic, raising fears of a major economic contraction.

The polymer industry has been feeling a considerable pressure on demand which is to do with a multitude of reasons.

But this latest reading reinforces the view that consumer jitters over inflation, war, and a looming energy crisis are additional major factors slowing down demand for polymers.