Eurozone sees boost in morale

EUROZONE economic sentiment rose to a three-year high in November, the EU announced yesterday.

Despite problems in the periphery, the Economic Sentiment Indicator (ESI) rose by 1.5 points in the 16-country currency block. It also increased by 1.3 per cent across the EU.

The results were boosted by a strong German increase of 2.8 points, while UK improvement was less pronounced, at 0.5 points.

The news came as the European Commission revised up its projection for German GDP growth for this year to 3.7 per cent.