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Consumer confidence drops in July in EU

July 23, 2012 at 12:18 PM

BRUSSELS, July 23 (UPI) -- The European Commission said Monday the flash estimate of consumer confidence in the European Union fell in the EU and the eurozone in July.

The flash estimate is based on a survey of consumers from 24 of the 27 EU countries, covering 98.8 percent of the the region's consumer spending.

For the eurozone, 16 of the 17 of that region's countries are included in the flash estimate. The survey represents a sample defined as 99.9 percent of the eurozone's consumer spending.

For the EU, the consumer confidence indicator fell from minus 19.7 to minus 20.3, the commission said. For the eurozone, the indicator dropped even further, falling from minus 19.8 to minus 21.6, the commission said.

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