Euro outlook more hopeful

Ben Southwood
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THE ECONOMIC climate brightened across the Eurozone in the first quarter of 2013, according to data out yesterday.

German think tank Ifo’s economic climate indicator for the bloc rocketed from 81.7 to 95.1, it said, reversing most of the losses seen since the second quarter of last year, when it stood at 100.3.

But the improvement in sentiment did not move with the current economic situation, the data suggested – as the situation indicator slide from 97.9 in the final quarter of 2012 to 95.1 this quarter.

However, firms were vastly more optimistic for the future, the Ifo data showed. The expectations indicator surged from 72.1 to also rest on 95.1.