The euro area economic confidence continued to deteriorate amid the rising uncertainties and downside pressures from rising inflation and deepening debt crisis.

Consumer confidence was revised lower to -9.8 from -9.7, while economic confidence dropped to 105.5 from a revised 106.1 from 106.2 and was below the expected 105.7.

The business climate indicator declined to 0.99 from 1.28 and below 1.20 expected. Industrial confidence also fell to 3.9 from 5.6 that was revised from the original estimate of 5.8 and below 5.3 expected. Services confidence was also reported with a drop to 9.2 from 10.4 and 10.0 expected.