Euro-area consumer confidence to improve

The consumer confidence indicator, published by the European Commission, is based on questions concerning the general economic situation, expectations of unemployment, savings and households' financial situation over the next 12 months. Other business surveys have suggested that the job market is improving - both in terms of wages and employment. 

Oil prices continue to remain low, resulting in increased purchasing power for consumers. As such, the number for consumer confidence is expected to improve from -7.7 to -6.9 for November. The rest of the EC confidence indicators, along with the flash PMI estimates, will be released next week.