According to the provisional estimate of the Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission, in August consumer confidence recovered 2.1 points in the single currency area and 1.0 point in the EU, after in July it fell by 3.2 and 3.0 points, respectively, reaching the lowest level ever on record.

Despite the recovery recorded in August, consumer confidence, which now stands at -26.0 points in the EU and -24.9 points in the euro zone, remains below the previous historic low, recorded at the beginning of the Covid-19 pandemic, in spring 2020, notes DG ECFIN.

This month's estimate for the EU aggregate is calculated on the basis of consumer survey data from 25 EU countries (no data for Greece and Romania), covering 96 percent of total private final consumption expenditure, while for the indicator of the euro zone, 18 member states are covered (only Greece is missing).