RTTNews - Eurozone economic sentiment improved for the fourth consecutive month in July, a monthly survey from the European Commission showed Thursday. The index stood at 76, up from a revised reading of 73.2 recorded in the prior month. Economists were expecting the indicator to climb to 75. However, the level is still far below the long-term average.
Industrial and services confidence improved 2 points each to minus 30 and minus 18, respectively. Consumer confidence also climbed 2 points to minus 23 in July. At the same time, construction remained at the June level of minus 33. Confidence amongst retailers moved up by 4 points to minus 13.
Separately, the EU said the business climate indicator for the euro area increased to minus 2.71 in July from minus 2.92. But the level is still very low, even when compared to the previous historical lows of 1993.
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