Home News German industry spurred economic mood in Europe

German industry spurred economic mood in Europe


HB BRUSSELS. The mood of entrepreneurs and consumers in the euro zone has brightened in July, surprisingly strong. The barometer for the business climate rose by 2.3 points to 101.3 , as the EU Commission announced on Thursday. Economists had expected a level of 99.0 .

Given the improvement in orders brightened the mood on especially in industry, led by Germany . Capacity utilization continued to improve . With 77 percent in the European Union, it is yet to four percentage points below the long term average.

Also for France a boost in confidence was reported (plus 2.6). In Spain alone, companies and consumers look dimmer than in June in the future ( down 2.2 points).

The barometer is made up of several components, which account for 40 percent of industrial , consumer and trade the other hand, only five percent. The business climate in the euro area recovered to plus 0.66 of revised up 0.4 points. Experts here have a level of plus 0.39 points predicted.