European economic confidence improves
European business and consumer confidence firmed in June for the
third month running albeit from depressed levels, according to an EU
survey on Monday.
The European Commssion's economic sentiment indicator for the
16-nation eurozone rose to 73.3 points in June from 70.2 points,
climbing further away from a record low 64.6 points reached in
March.Meanwhile, in the 27-nation European Union the indicator rose to
71.1 points from 67.9.
"The increase observed at sector and country level is mainly driven
by improving expectations, as the main economic actors seem to be
gaining confidence that the crisis is easing," the commission said in
the report. "In a consistent development, employment expectations picked
up in industry and services and consumers' unemployment expectations
decreased," it added.