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Eurozone economic sentiment rose to 88.8 in November from 86.1 in October, a monthly survey conducted by European Commission showed Friday. The index stood above the expected level of 88, but remained significantly below its long-term average.
Sentiment in industry rose 2 points to minus 19, which was the main contributor to the overall improvement. Consumer confidence rose slightly to minus 17 from minus 18 in October. Both industrial and consumer sentiment indicators matched economists' expectations. At the same time, confidence in construction climbed 3 points to minus 26 and that in retail improved 4 points to minus 11. Services confidence stood at minus 4, up from minus 7 in the prior month.
Elsewhere, the business climate indicator for the euro area improved in November to minus 1.56 from a revised reading of minus 1.79 in October. Economists were expecting the index to rise to minus 1.65 in November.
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