Euro economic confidence up: EU survey
(BRUSSELS) - European business and consumer confidence firmed in November for an eighth month running, an EU survey showed on Friday, although it fell in key recession straggler Britain.
The European Commission's economic sentiment indicator for the 16 nations using the euro single currency rose to 88.8 points in November, up 2.7 points from one month earlier. The index hit a record low 64.6 points in March.
For the 27-nation EU as a whole, economic confidence also increased according to the commission survey, up 1.9 points to 87.9 points in November -- two weeks after the bloc officially emerged from recession.
The improvement in both the eurozone and the wider EU was due to higher confidence mainly in industry, the commission said.
Meanwhile the commission's separate business climate indicator also improved in November in the eurozone, standing at minus 1.56 points, up from minus 1.78 points in October.
Text and Picture Copyright 2009 AFP. All other Copyright 2009 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.
