Business climate raises faster than expected in the Eurozone

Business climate raises faster than expected in the Eurozone

Photo: EPA

Eurozone economic outlook and expectations have improved at a faster than expected pace in February, Reuters reported. The optimism sparkled on the back of positive news linked to recovery signs in industry and service sectors.

The European Commission’s monthly sentiment survey showed economic optimism in the 19 countries sharing the euro rose to 93.4 points this month from 91.5 in January, beating expectations of a rise to 92.0. Industrial sentiment improved to -3.3 in February from a revised -6.1 points against expectations of a rise to -5.0 and, in the biggest sector of the Eurozone economy - services to -17.1 from -17.7 against expectations of a fall to -18.1.

Among consumers, optimism rose to -14.8 points from -15.5, offsetting a slight dip in sentiment in retail trade to 19.1 from -18.5. The more upbeat outlook translated also to stronger selling price expectations among manufacturers, rising to 9.7 points from 4.8, and among consumers - to 15.7 from 15.4.

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