The Eurozone economic confidence index ticked up 2 percentage points in November from October to 109, according to the European Commission. This figure beat forecasts and is the highest level for the last four years.
The indicator benefited from improved confidence in the services sector, the construction sector, the retail sector and amongst consumers. But confidence in the industrial sector declined in November.
According to Afi analysts: “This data supports the idea transmitted by other indices, like the PMI or the IFO, that the economic slowdown registered in the euro area in the third quarter may have been transitory.”