Data released on Tuesday showed eurozone consumer confidence deteriorated by more than expected in February.
The preliminary estimate from the European Commission indicated consumer sentiment in the bloc had fallen to 0.1 points in February versus a revised 1.4 points in January, which marked a 17-year high.
According to a Reuters poll, economists had expected the gauge to show a score of 1.0 points this month.
Figures also suggested confidence had declined across the EU as a whole, with the gauge at -0.3 points compared with 0.4 points in January.
Despite the setback, leading economists remain generally upbeat on the outlook for the eurozone.
“Despite dropping for the first time in seven months in February, euro-zone consumer confidence continues to point to a pick-up in household spending growth. While fuel prices are on course to fall this month and business surveys remain consistent with further improvements in the labour market, consumer sentiment was probably hit by the sharp declines in global equity prices at the start of February,” said Stephen Brown at Capital Economics.
The European Commission´s consumer sentiment gauge remains well above the long-term average.