Brussels, Feb. 25, (dpa-AFX/GNA) – Eurozone economic confidence rose to a three-month high in February, survey results from the European Commission showed on Friday.
After three consecutive decreases, the economic confidence index rose to 114.0 in February from 112.7 in the previous month.
This was the highest reading since November and well exceeded the economists’ forecast of 113.1.
The improvement was driven by mounting confidence in services, retail trade and, to a lesser extent, construction.
The industrial sentiment index rose slightly to 14.0 from 13.9 a month ago. This was below the expected level of 14.2.
The services confidence index advanced to 13.0 from 9.1 in January.
At 5.4, the retail trade confidence reached its highest level since late 2015.
Confidence in construction also improved, with the index hitting 9.9, up from 8.1 in the prior month. Meanwhile, the consumer sentiment index came in at -8.8, in line with the flash estimate, and down from -8.5 in January. The Employment Expectations Indicator rose 2.6 points to 116.2, its highest reading since May 2000.
GNA