Closing post...
Time to wrap up… here are today’s main stories:
Eurozone consumer confidence rises to one-year high
Consumer confidence across Europe has improved for the fourth month running, as hopes build that a painful recession can be avoided.
The European Commission’s gauge of consumer morale across the European Union rose to -20.6 this month, up by 1.5 percentage points. In the euroarea, it increased to -19.0, from -20.7 in January.
The increase comes as energy prices fell back across Europe, thanks to a mild winter and successful efforts to stockpile gas last summer and autumn.
These are the highest readings in a year, but they are still at levels normally associated with shrinking consumption, points out ING economist Bert Colijn.
Eurozone consumer confidence ticked up again in February but remains at a level historically associated with falling household consumption. pic.twitter.com/TmDc9iiNZ6
— Bert Colijn (@BertColijn) February 20, 2023
