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The European Commission’s first estimate showed on Wednesday, Euro zone consumer confidence jumped much more than expected to -7.1 points in May, rising to its highest level in six and a half years. Economists polled by Reuters had expected an improvement to -8.2 from a revised -8.6 in April, originally reported at -8.7. The May number is the best reading since October 2007 when it stood at -6.2. The Commission said for the whole of the 28-nation European Union, consumer confidence improved by 1.6 points to -4.1 in May against April.

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