European consumer confidence slumped in July amid a
deepening sense of concern about the region's debt crisis, a survey
released Wednesday showed.
The European Commission said its survey of consumer confidence in
the 17-member eurozone fell to a preliminary reading of minus 11.4
points this month from a downwardly revised reading in June of minus
10.3 points. Analysts had forecast a figure of minus 10.2 points this
month.
The commission mounted the survey amid a fresh outbreak of tension
surrounding the debt crisis that has gripped parts of the eurozone
since the start of last year. Details of the commission's survey are
due to be released next week.
The survey also adds to signs that the crisis, which has already
claimed Greece, Portugal and Ireland, is starting to impact the
performance of the currency bloc's economy. Now the fear is that the
crisis could threaten Spain and Italy.
