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Euro-Zone Consumer Confidence Rebounds But Stays Near Record Low
Euro-area consumer confidence unexpectedly improved, though it remained below anything seen during the pandemic as the rising cost of living hurts households and energy shortages threaten to curb economic output. A monthly gauge from the European Commission rose to -24.9 in August from -27 in July, according to data released Tuesday. Economists surveyed by Bloomberg had predicted a slight decline to -28. Europe is bracing for a recession as inflation breaks record after record and the risk of a Russian energy cutoff rises. Activity in the 19-nation euro region declined for a second month in August, data earlier ... (full story)