Euro zone sen­ti­ment at 17-year high

The Irish Times - - Business News -

Euro-area eco­nomic con­fi­dence surged to its high­est in al­most 17 years, re­flect­ing an im­proved out­look for a re­gion that not long ago was blighted by record job­less­ness and a dou­ble-dip re­ces­sion.

The in­dex of in­dus­try and con­sumer sen­ti­ment rose to 114 in Oc­to­ber from a re­vised 113.1 the pre­vi­ous month, the Euro­pean Com­mis­sion said yes­ter­day. That’s the gauge’s fifth con­sec­u­tive monthly in­crease and the strong­est read­ing since Jan­uary 2001. It com­pares with a me­dian es­ti­mate of 113.3 in a Bloomberg sur­vey. Af­ter the past decade dealt the euro area two pro­longed eco­nomic slumps, a sov­er­eign debt cri­sis and an al­most-exit of Greece from the sin­gle cur­rency, the 19-na­tion re­gion is ex­pe­ri­enc­ing a growth re­vival. Un­em­ploy­ment is de­clin­ing and con­sumer spend­ing, as well as cor­po­rate earn­ings and in­vest­ment, are on the rise.

Bet­ter per­for­mances in coun­tries from the United States and Canada to Rus­sia and In­dia have also buoyed that up­swing.

– (Bloomberg)

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