Consumer confidence slides in Europe

BRUSSELS, Aug. 23 (UPI) -- The European Commission said consumer confidence declined in July in the European Union, but remained higher than the index's long-term average.

The Economic Sentiment Indicator for both the EU and the eurozone declined in July, dropping by 2.2 points in both regions, the commission said Tuesday.

The index in the European Union fell to 102.4, while the index in the eurozone dropped to 103.2.

In the euro area, confidence fell "in all sectors, with strong losses in industry and services," the commission said.

In the larger 27-member EU, confidence fell in industry, retail trade, service and construction.

The indexes give a 20-year period, from 1990 to 2010, a base value of 100, which is the index's long-term average.