Consumer Confidence in the EU and euro area jumped by 3.0 points in May from April, according to the European Commission press release.
Consumer confidence is now at -6.0 in the EU and -5.1 in the euro area, pre-pandemic levels.
The rising consumer confidence happens amid reports showing that GDP declined by 0.6% and 0.4% in the euro area and EU respectively, in the first quarter.
EU and euro area also posted 0.3% declines in employment in the first quarter.
European stocks are gaining as the Euro loses. DAX is up 0.52%, EURUSD is down 0.31%.
