Home News CONSUMER CONFIDENCE RISES IN EU, EA

CONSUMER CONFIDENCE RISES IN EU, EA

February 2, 2023
consumer confidence

Consumer confidence rises in EU, EA, according to European Commission Directorate-General Economic and Financial Affairs (DG ECFIN)’s flash estimate.

The new data shows continued recovery of the consumer confidence indicator in January 2023.

The EU sees a 1.4% increase, the euro area a 1.1% increase. Despite this, both remain well below their long-term average at -22.4 and -20.9 respectively.

During the past few months, demand for polymers suffered greatly, especially in the construction and electrical and electronics sectors.

In December, as many players destocked, demand reached its lowest point in years, particularly for ABS.

January saw a slow recovery in polymer demand as buyers remain cautious.

The Directorate-General for Economic and Financial Affairs, or DG ECFIN, implements EU policies aimed at boosting economic growth, higher employment, stable public finances, and financial stability.