FX.co ★ Eurozone Consumer Confidence Improves Modestly

Pessimism among euro area consumers declined for a second straight month in May, but the improvement was less than expected, preliminary survey results from the European Commission showed Monday.

The seasonally adjusted flash consumer confidence rose to -17.4 from -17.5 in April. Economists had forecast a score of -17.0.

The latest reading was the strongest since February last year, when it was -9.5.

The corresponding indicator for the EU rose further, adding 0.6 percentage points to reach -18.3. The reading was the strongest in 14 months.

However, both readings remained well below their long-term average, the commission said. The survey data was collected from May 1 to 21. The final readings for May consumer confidence is set to be released with the monthly economic sentiment survey data on May 30.