Businesses and consumers in the euro zone were the most optimistic in over two years in October as better economic conditions lifted the mood for the sixth month running.
The improvement in confidence is yet to translate into significant improvements in the still-sluggish euro-zone economy.
Rapid growth in spending is unlikely as long as unemployment stays near record levels and firms struggle to secure loans.
Still, the latest sign of improving conditions will be welcome for euro-zone leaders hoping an economic pickup will help them to curb their debts, and to end conclusively a fiscal crisis that has dogged the region since 2010.
Eurostat, the European Union's official statistics agency, said Wednesday its economic sentiment indicator--a gauge of the mood among consumers and businesses--rose to 97.8 in October from 96.9 in September. That is the highest level since August 2011.
Confidence rose among households and factory operators. It ebbed among retailers, service providers and construction firms.
The euro-zone economy emerged from an 18-month downturn during the second quarter. Official data on economic output in the third quarter will be published in mid-November.
nasdaq.com
The improvement in confidence is yet to translate into significant improvements in the still-sluggish euro-zone economy.
Rapid growth in spending is unlikely as long as unemployment stays near record levels and firms struggle to secure loans.
Still, the latest sign of improving conditions will be welcome for euro-zone leaders hoping an economic pickup will help them to curb their debts, and to end conclusively a fiscal crisis that has dogged the region since 2010.
Eurostat, the European Union's official statistics agency, said Wednesday its economic sentiment indicator--a gauge of the mood among consumers and businesses--rose to 97.8 in October from 96.9 in September. That is the highest level since August 2011.
Confidence rose among households and factory operators. It ebbed among retailers, service providers and construction firms.
The euro-zone economy emerged from an 18-month downturn during the second quarter. Official data on economic output in the third quarter will be published in mid-November.
nasdaq.com
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