Frankfurt [Germany], June 30: Eurozone economic confidence improved more than expected in June as tensions in the Middle East eased, survey data from the European Commission showed Monday. The economic sentiment index rose to 95.0 in June from 93.7 in the previous month. The score was forecast to improve to 94.3. The upturn in the economic confidence was driven by higher confidence in almost all sectors, namely retail trade, industry, services and among consumers, while confidence in construction deteriorated from May. At -7.7, the industrial confidence index rose from -7.9 in May. The improvement reflects a marked rise in managers' assessment of stocks of finished products and stronger production expectations. Driven by more positive demand expectations, the services sentiment index climbed to 3.2 from 2.6 in the prior month. At -17.7, the consumer sentiment index advanced to a three-month high from -19.0. The increase was driven by receding pessimism regarding the future general economic situation in their country and their household's future financial situation.
Source: Qatar Tribune
