Euro area consumer confidence to remain firm – SocGen

Research Team at Societe Generale, notes that in January, the euro area consumer confidence indicator decreased by 0.6 points to -6.3.

Key Quotes

“Despite recent market turmoil, we don’t expect this number to change significantly in the February flash release, perhaps edging very slightly lower to -6.5 (but 0.7 standard deviations above the average). Persistently low oil prices continue to boost consumers’ purchasing power, and our view is that consumption will continue to be the main driver of the euro area recovery.”