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Euro-Area Consumer Confidence Near Record Low as Recession Looms
Euro-area consumer confidence stayed close to a record low in October, highlighting the continued risk of a recession this winter as households struggle with surging inflation and an acute cost-of-living crisis. A monthly gauge from the European Commission inched up to -27.6 from -28.8 in September, according to preliminary data released on Friday. Economists surveyed by Bloomberg had predicted a decline to -30. The bleak outlook for the euro area is pushing governments to take extraordinary measures to protect firms and households. Many nations have already spent tens of billions of euros in aid, and European ... (full story)