The consumer confidence indicator in the Euro Area came in at -3.9 in November 2018, unrevised from a preliminary estimate and below October's final figure of -2.7. It was the weakest reading since March 2017 due to a deterioration of all its components, i.e. consumers' unemployment and savings expectations and their views on their future financial situation and the future general economic situation. In the European Union as a whole, the consumer sentiment index was also confirmed at a 20-month low of -3.7 in November. Consumer Confidence in the Euro Area averaged -11.73 Index Points from 1985 until 2018, reaching an all time high of 2 Index Points in May of 2000 and a record low of -34.70 Index Points in March of 2009.
Consumer Confidence in Euro Area is expected to be -3.40 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Euro Area to stand at -2.60 in 12 months time. In the long-term, the Euro Area Consumer Confidence is projected to trend around -6.60 Index Points in 2020, according to our econometric models.