New figures show that euro zone consumer confidence worsened in January as the single currency area struggled to contain a sovereign debt crisis.
The European Commission said in a flash estimate that consumer morale in the 17-country zone was at -11.4 in January, down from -11.0 in December. In the wider 27-nation EE, consumer sentiment declined to -12.8 from -12.1.
Analysts say strong private demand is crucial for making euro zone economic growth self-sustaining. But austerity measures ordered by many governments and turmoil on financial markets limit such consumer demand.
