Eu­ro­zone eco­nomic con­fi­dence climbs again

The Pak Banker - - International -

BRUS­SELS: Busi­ness and con­sumer con­fi­dence in the 16na­tion eu­ro­zone rose again in Au­gust but at a slower pace than the pre­vi­ous month amid op­ti­mism about the econ­omy, the Euro­pean Union said Mon­day.

The Eco­nomic Sen­ti­ment In­di­ca­tor pro­duced by the Euro­pean Com­mis­sion rose to 101.8 points in the sin­gle cur­rency area, match­ing a two-year high, with re­gional pow­er­house Ger­many lead­ing the pack with a boost of 1.1 points.

Sen­ti­ment also climbed across the 27-nation Euro­pean Union, ris­ing 0.6 points to 102.7 points with Bri­tain, which is not a mem­ber of the eu­ro­zone, lead­ing the way with a gain of 1.5 points.

The com­mis­sion said con­sumer con­fi­dence "im­proved markedly" in the EU and the eu­ro­zone.

"Widely-felt op­ti­mism about the gen­eral eco­nomic sit­u­a­tion as well as fur­ther con­sid­er­able eas­ing of un­em­ploy­ment fears set the tone," the EU's ex­ec­u­tive arm said in its re­port.

Eco­nomic sen­ti­ment rose to its high­est level since March 2008, when it also stood at 101.8 points. -Afp

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