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    Eurozone: Consumer confidence signals strong domestic conditions - ING Matías Salord

    Bert Colijn, Senior Economist at ING  explains that according to the latest survey, consumer in the Eurozone  seem relatively unfazed by the possibility of Brexit.Key Quotes:“Eurozone consumers seem relatively unfazed by prospects of a Brexit as consumer confidence declined by just -0.3 points to -7.3 in June. This broadly stable reading comes after a jump in confidence in May, leaving the indicator well above its long-term average.”“Domestic strength is causing Eurozone consumers to be quite confident as a continued recovery in hiring is putting more Europeans back to work, while low inflation is boosting real incomes. While prices at the pump are starting to increase again, the overall environment for the Eurozone consumer remains quite benign.”“This uncertainty has not impacted consumer confidence much though, even though a Brexit could also have serious implications for the Eurozone economy. Perhaps Eurozone consumers even enjoy the prospect of a cheap visit to London.”“Consumer confidence being stable at relatively high levels adds to the view that the domestic conditions in the Eurozone remain fairly strong. While the strong growth in consumption and investment of the first quarter will be difficult to match, it is likely that domestic activity will at least continue to support growth at a modest pace this summer.”  

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