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Euro Area Consumer Confidence Falls to −17.9 in October
23 October 2026

Euro Area Consumer Confidence Falls to −17.9 in October

Euro area consumer confidence weakened in October, according to the European Commission’s flash estimate released on 22 October. The indicator fell 1.1 points from revised September results to −17.9. Across the European Union, confidence dropped 1.2 points to −17.3. Both measures moved further below their long-term averages.

The survey collected responses between 1 and 21 October. Its preliminary EU estimate covers 26 member states, excluding Estonia, representing 99.8% of private consumption expenditure.

The comparison requires care: September’s results were revised down after Italian survey data were restored to the European aggregates. The Commission also flagged a methodological break in the Italian series between August and September. The full October business and consumer survey results are due on 29 October.

Market perspective

The weaker reading suggests households remain cautious, making the strength of consumer demand an important question for the euro area outlook. However, a confidence survey measures sentiment rather than actual spending. Retail sales, household incomes and employment data will help establish whether this caution translates into softer consumption. This release alone cannot establish a direction for the euro or determine the European Central Bank’s next policy decision.

Source: European Commission, October flash consumer confidence release.

The European Commission's Berlaymont building in Brussels, photographed on January 30, 2018 (file photo). Photo: Romaine / Wikimedia Commons, CC0. Photo source and licence