According to the flash estimate of the Commission, consumer confidence indicator in the Eurozone increased from minus 17.3 in June to minus 14.1 in July. For the 27-member EU, consumer confidence indicator also improved slightly, up to minus 13.8 from minus 14.9 in June.

Analysts said that the improvement can be attributed to signs of easing of the European debt crisis. Meanwhile, the Commission said that the economic sentiment indicator for the Eurozone in June also increased by 0.3 points, reaching 98.7, while that of the EU remained broadly unchanged at 100.1, down by 0.1 points.

In June, the Economic Sentiment Indicator (ESI) remained broadly unchanged at 100.1 (down by 0.1 points) in the EU and at 98.7 (up by 0.3 points) in the euro area. Among the largest Member States, the UK (-3 points) reported the biggest drop in sentiment (especially in industry), followed by France (-2.3) and the Netherlands (-2.0). In contrast, Spain (+2.3) reported the most significant increase - although this was from one of the lowest levels in the euro area.

Improvements were less pronounced in Italy (+1.4). Sentiment in Germany (+0.4) and in Poland (-0.5) remained broadly unchanged.