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The Conference Board Economics Watch® European View

Consumer confidence has been declining during 2018. While it remains very high in historical terms, the question is whether it will continue declining and begin to depress spending. Rising wages might give another boost to domestic demand. Stronger wage growth may pump confidence again, and therefore spending. However, it is also possible that stronger inflation, at 2.1 percent in June, will hit purchasing power and make consumers warier of spending.

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