Eurozone mood highest since August 2007 as Germany’s recovery continues

first_img BUSINESS confidence in the Eurozone sprung back in February, rising above the expectations of economists to a 41-month high, official data showed yesterday.The EU’s sentiment index recorded 107.8, a point up from January’s upwardly revised score of 106.8.“Consumers, industry and services confidence all contributed to the rise,” said Eoin O’Callaghan of BNP Paribas.“The breakdown remains one of divergence, however, with exceptionally strong sentiment levels in the core, particularly in Germany, and weaker, below average levels in the periphery.”The news came after German GDP growth for the final three months of the year was announced at 0.4 per cent on the previous quarter.The score was generally seen as positive for the Eurozone’s largest economy, which, like the UK, was hit by severe winter conditions.“A drop in inventories subtracted 0.4 per cent from quarterly GDP growth and then the weather related plunge in construction activity in December subtracted another 0.4 per cent,” said Howard Archer of IHS Global Insight.“These influences should be unwound in early 2011,” he predicted.And there was more good news for the German recovery, as Munich-based Ifo Institute reported an easing of credit constraints in February. Eurozone mood highest since August 2007 as Germany’s recovery continues whatsapp Tags: NULL Share KCS-content whatsapp Show Comments ▼ Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Thursday 24 February 2011 8:37 pmlast_img