EMU: consumer confidence weakens again in April

European Commission’s consumer confidence weakened unexpectedly in April. According to the first estimate, European Commission’s consumer confidence dropped from -19.1 to -19.8, while the consensus was looking for a marginal improvement. After a slight improvement since the start of the year, consumer confidence weakened again in April. This is not really a surprise as the unemployment rate is nearing record high levels, the economy is weakening again and austerity measures weigh on consumers’ budgets.