Euro area consumer confidence slumps to record low

Amid spiraling inflation and a looming winter energy crisis, Euro area consumer confidence plunged to its lowest level on record in September, the European Commission said on Thursday.

The figure fell to minus 28.8 points, a decrease of 3.8 points from the previous month, the commission said in a flash estimate.

Consumer concerns over the energy crunch and the European Central Bank's monetary tightening were pivotal factors in the slump.

Consumer confidence in the EU also declined by 3.5 points to minus 19.9 points.