July final consumer confidence -15.9 vs -15.9 prelimPrior -17.6July economic confidence 96.9 vs 96.0 expectedPrior 95.0; revised to 95.4July services confidence 4.7 vs 3.8 expectedPrior 3.2; revised to 4.2July industrial confidence -6.1 vs -7.0 expectedPrior -7.7; revised to -7.5This points to a continued recovery in euro area economic sentiment, with the confidence reading being the highest since February. That comes amid a continued rebound in both the services and manufacturing sectors. While still subdued, consumer confidence also picked up a little as reaffirmed by the final estimates. Adding to this is a further decline in the consumer inflation expectations reading to 30.3 (previously 34.0). The good news for now is that at least stagflation risks are off the table amid some added economic resilience in Q2.