Eurozone Economic Sentiment Continues To Improve In October

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Eurozone economic sentiment rose for a seventh consecutive month in October after hitting the trough in March, results of the latest business and consumer survey by the European Commission showed Thursday.

The economic sentiment indicator rose to 86.2 in October from 82.8 in September, while economists had forecast a reading of 84.4. All the sub-indicators of the economic sentiment showed improvement in the month, except retail trade, where the sentiment stabilized.

The consumer confidence indicator rose to minus 18 in October from the previous month's minus 19, the industrial sentiment indicator moved to minus 21 from minus 24, the measure for service sector confidence increased to minus 7 from minus 9 and that for construction sector improved to minus 29 from minus 30. A gauge for the retail sector was steady at minus 15.

A separate survey revealed that the business climate index for the euro area rose to minus 1.78 in October from minus 2.07 in September. It was expected to log minus 1.9.

Eurozone economic sentiment rose for a seventh consecutive month in October after hitting the trough in March, results of the latest business and consumer survey by the European Commission showed Thursday. (Market News Provided by RTTNews)