Euro zone economic confidence surges in August

By IBTimes Staff Reporter | August 30 2010 5:10 AM

Euro zone economic confidence increased to 101.8 in August from the revised 101.1 which was 101.3, beating estimates of 101.6. Consumer confidence inched up to -11 compared with both prior and estimated readings of -12. Industrial confidence remained at -4, in line with both previous and predicted readings. Services confidence ticked up to 7 relative to the preceding and analysts' forecasts of 6.

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Moreover, business climate indicator slipped in August to 0.61, lower than estimates of 0.70 and July's reading which was revised down to 0.63 from 0.66.

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