BRUSSELS (AP) – Economic confidence is up in the 19 European countries that use the euro, a survey showed Monday, thanks in particular to greater optimism among consumers that has led to a pickup in inflation expectations.
The Economic Sentiment Indicator, a monthly survey by the European Union’s executive Commission, rose to a four-month high of 104.7 points in May from 104.0 in April.
Consumers expressed greater confidence over the general future of the eurozone economy, the prospects for employment as well as savings. Industry managers also sounded more upbeat, in particular about a rise in orders.
Among the eurozone’s biggest countries, France saw the strongest rise in confidence, with Germany enjoying a smaller uptick.
The industry and retail sectors expressed a greater interest in hiring, a potential boon to a region still blighted by unemployment of around 10 percent.