Euro zone consumer confidence falls in November

Thu Nov 22, 2012 10:00am EST

BRUSSELS, Nov 22 (Reuters) - Euro zone consumer confidence
fell in November compared to the previous month, the first
estimate from the European Commission showed on Thursday.
    The Commission said consumer confidence in the 17-member
euro zone slipped to -26.9 this month from a revised October
figure of -25.7.
    Consumer spending accounts for more than half of euro zone
economic output, but with the effects of the debt crisis cutting
disposable income, households have been in no position to
contribute much to economic recovery.
    In the wider 27-member European Union, consumer sentiment
improved a fraction, to -23.7, compared to -24.3 last month.
    EU leaders want to drive economic growth and employment
after nearly three years of crisis and austerity, but the bloc
has little immediate cash to invest and faces the longer-term
challenge of falling productivity and an ageing workforce.   
    
    For European Commission data click on:
    here

 (Rex Merrifield, Brussels newsroom)
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