Economic Confidence Improves In February

Economic Confidence Improves In February



Eurozone economic confidence rose more than expected to 94.4 in February from 93.4 in January, survey results from the European Commission showed Tuesday. Economists were expecting the index to climb to 94.
The improvement was broad-based across all sectors except for services, where a decrease in confidence partly offset the rebound observed in January. Industrial confidence rose to -5.8 from -7 a month ago. Likewise, retailers' sentiment came in at -14.3 compared to -15.5 in January.
Confidence in construction improved further to -24.5, thanks to a more positive assessment of order books and, notably, of employment expectations.
Sentiment among consumers improved slightly by 0.4 points to -20.3, based mainly on improved expectations regarding the general economic situation and consumers' own financial situation.
The business climate indicator increased marginally to -0.18 from -0.21 in January. The improvement was mainly driven by a more positive assessment of production expectations, order books and stocks of finished products. By contrast, export order book and past production were assessed more negatively.

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