Brussels, 28/10/2010 (Agence Europe) - The confidence of captains of industry and consumers in the eurozone continued the upward rise in October, even exceeding the average long-term confidence level, explained the European Commission in a press release published on Thursday 28 October.
The business confidence indicator rose significantly in the eurozone in October, from 0.76 in September to 0.98 in October. The Commission points out that the indicator is now at its highest level since September 2007, and says that industrial recovery should continue over the next few months. The sharp rise in the indicator shows optimism among captains of industry as order books fill up.
The indicator measuring general economic confidence rose by 0.9 of a point in October in the eurozone compared with September to 104.1 points. One would have to go back a far as December 2007 to find a similar level of confidence (105 points). In the EU as a whole, the economic confidence indicator is now 104.1 points, but rose by less last month than in the eurozone (0.5 point). France recorded the greatest rise (+ 3.4 points), followed by the Netherlands (+ 2.8 points). The index did not rise as much in Germany and Italy (both + 0.3 point) and fell in Spain (- 0.2 point). (O.L./transl.fl)