Consumer confidence rises in Europe in June

BRUSSELS, June 20 (UPI) -- The European Commission said Thursday consumer confidence rose in the eurozone and the larger European Union in June compared to May.

In a flash estimate that could be revised later, the commission said its consumer confidence indicator rose by 3.1 points in the 17-member currency region, climbing from minus 21.9 to minus 18.8.

In the 27-member European Union, the index rose from minus 20.2 to minus 17.5, a 2.7 point gain.

A negative reading is normal. The long-term average for the index, dating back to 2003, is minus 12.5.