Brussels, 27/11/2009 (Agence Europe) - Figures published by the European Commission on Friday 27 November reveal that economic confidence indicators continue to rise in Europe.
In November, the Economic Sentiment Indicator rose by 1.9 points to 87.9 in the EU and by 2.7 points to 88.8 in the euro area. The Commission notes that this is the eighth consecutive time that the monthly indicator has improved. The indicator rose most sharply in the Netherlands (6.3), while the improvements were more modest in Poland (2.9), Italy (2.5), France (2.2), Germany (1.7) and Spain (1.4). The UK, in contrast, witnessed a sizeable drop (2.9). The main contributor to the overall improvement was, the Commission said, the sentiment in industry, which increased by 1 point in the EU and by 2 points in the euro area (and was particularly apparent in Germany and France). Confidence among consumers did not change in the EU in November (though it declined in Germany). Confidence in financial services declined (demand over the past 3 months was felt to be disappointing)
The Business Climate Indicator for the euro area improved in November for the eighth consecutive month, to -1.56, compared with -1.79 in October. The rise is due to a broad-based improvement in sentiment among managers. The majority of companies report higher production expectations. (L.C./transl.rt)