The economic confidence of the euro area increases up to 5 months high

Brusels/Frankfurt/Paris (DPA-AFX)-the economic confidence of the euro area consolidated at a maximum level of five months in February to improve confidence among industrial managers and consumers, a survey watched on Thursday.

The economic confidence index recorded 96.3 in February, increasing compared to 95.3 in the previous month, revealed the survey data from the European Commission. The reading was above the forecast of the economists of 96.0 and was also the largest in September.

The consolidation of ESI in the EU resulted from improved confidence in industry and consumers, which has been moderated by a decrease in confidence in construction and services. Confidence in retail trade remained widely unchanged.

The index of industrial feeling improved more than it was -11.4 from -12.7 a month ago. Moreover, this was the second consecutive growth and reached a height of three months. The score was seen at -12.0.

The index of the consumer’s feeling was suitable with the flash estimate of -13.6, until -14.2 in December.

Meanwhile, the indicator of the feeling of services decreased unexpectedly to 6.2 compared to 6.7 a month ago, while it was seen to 6.8.

Confidence among contractors weakened after improving it in January. The reading slipped up to -3.5 from -3.0. At the same time, the confidence among retail traders remained unchanged in February, because the index reading took place at -5.3.

Moreover, the survey showed that the waiting indicator for employment was damaged in February, passing a little further below its long -term average. The score came to 97.0 compared to 98.5 in the previous month.