Euro-Region November Consumer Confidence Drops to 2-Year Low
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European consumer confidence dropped to the lowest in more than two years in November, as the economy edged toward a recession and companies eliminated jobs.
An index of household sentiment in the 17-nation euro area fell to minus 20.4 from minus 19.9 in October, the Brussels-based European Commission said in an initial estimate today. That’s the lowest since August 2009. Economists had forecast a drop to minus 21, the median of 28 estimates in a Bloomberg survey showed. Confidence has weakened for five straight months, the longest stretch of declines since 2008.