Eurozone consumers cut spending on tariff fears

Eurozone consumers have altered their consumption habits in anticipation of US tariffs, moving away from American products and reducing discretionary spending, a study published by the European Central Bank on Monday found.

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Eurozone consumers, sitting on ample savings built up in the years since the pandemic, have been cautious in making purchases all year as uncertainty over tariffs kept key parts of the bloc's economy in limbo.

"In response to tariff-related concerns, consumers are altering their spending habits in notable ways," the ECB said in an Economic Bulletin article.