FXstreet.com (Barcelona) - Economic confidence has weakened in the Euro Area to historically low levels in yet another signal of the financial downturn affecting global economy, as the latest survey by the European Commission shows.

The overall economic sentiment index has declined in January to 68.9 points from 70.4 points in December, revised up from the 67.1 level initially estimated. January's reading is the lowest since the European Commission started the survey in 1985.

Industrial confidence edged down to -34 in January from -33 in December, while consumer confidence dropped to -31 in January from -30 in December.