Euro confidence ticks upward

Chris Papadopoullos
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CONSUMER and business confidence in the Eurozone is rising, figures showed yesterday.

The economic sentiment index published by the European Commis­sion (EC) to a score of 102.1 in February from January’s 101.4.

“A second successive appreciable rise in overall Eurozone economic sentiment to a seven-month high in February suggests that a much more competitive euro, sharply reduced oil prices and European Central Bank stimulus is fostering a more favourable growth environ­ment,” said economist Howard Archer of market analysts IHS.

But some economists played down the rising confidence. “February’s EC business and consumer surveys are consistent with slow and steady growth,” said economist Jennifer McKeown from Capital Economics.