Economics
Euro-Area Economic Confidence at Lowest Since 2020 Amid Gas Woes
- Consumers lead drop in sentiment survey by European Commission
- Report is first since Russian shutdown of Nord Stream gas
Consumer sentiment has fallen the most with uncertainty among households at an all-time high.
Photographer: Manaure Quintero/BloombergThis article is for subscribers only.
Euro-area economic confidence dropped to the lowest since 2020 this month as record inflation and the prospect of the first winter in a generation without Russian gas cast a shadow over the region.
A measure of sentiment compiled by the European Commission fell to 93.7 in September. That’s less than the median forecast in a Bloomberg survey of economists and the lowest since November 2020. The outcome marks the seventh consecutive monthly decline.