Euro zone consumer confidence dips to near worst since pandemic

The war on the euro zone’s border and renewed strains on global supply chains have hit the euro-zone hard

Euro-area consumer confidence approached its lowest level since the early months of the pandemic as soaring inflation weighs on purchasing power and households fret about the knock-on effects of Russia’s war in Ukraine.

A monthly gauge from the European Commission showed a reading of -23.6 in June -- down from -21.1 in May and worse than the -20.5 median estimate in a Bloomberg survey of economists.