Eurozone economic sentiment reaches seven-month high

EurozoneEurozone economic sentiment has risen to a seven-month high in February, suggesting that a more competitive euro, sharply reduced oil prices and European Central Bank (ECB) stimulus is providing a better growth environment in the region. Consumer confidence across the Eurozone also climbed to a significant 89-month high this month, according to research from economics organisation Global Insight, a division of information provider, IHS. The rise in sentiment follows on from purchasing managers recently reporting that overall manufacturing and services activity had improved to a seven-month high during the month. The Global Insight research also found that consumers have been markedly less worried about unemployment this month, with employment expectations at a 35-month high for manufacturers and a 43-month high for services companies, while the retail sector also saw an improvement. Overall, economic sentiment improved in most Eurozone countries during February, including France, Italy and Spain. It also rose in Greece despite high levels of uncertainty. Surprisingly, economic sentiment dipped downwards in Germany for the month even though it has the most favorable fundamentals for consumer spending across Europe, with reasonable real wage growth and employment at a reunification high. ©2015 funds europe

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