Euro zone economic confidence up in February

Tuesday 28 February 2012 11.00
Euro zone consumer and business confidence higher
Euro zone consumer and business confidence higher

Consumer and business confidence in the euro zone rose in February, although the key services sector suffered a drop, official data showed today.

A confidence index compiled by the European Commission for the euro zone edged up to 94.4 points from 93.4 points in January, the EU executive said.

Across the 27-nation European Union as a whole, confidence of business leaders and consumers gained 1.1 points to an indexed 93.9 according to the data.

A statement said the decrease in confidence in the services sector in February "partly offset the rebound observed in January."

Within the euro zone, France logged the biggest jump in confidence, up 1.6 points to Germany's 0.1 points. Spain's reading dropped by 0.2 points. Outside the currency area, Poland did best among the larger EU states, rising by 1.7 points. The UK rose 0.3 points.