Consumer morale in the eurozone hit a near two-year high in July, but it's still below the long-term average.

The reading was the best since August 2011.

The European Commission said today that improving consumer confidence follows better manufacturing data this week and points to a recovery in the second half of this year.

Consumer optimism about the economy is still below the long-term average in the EU though, and households will still struggle to support the expected recovery.