Economic sentiment in the euro zone rebounded in November to its highest level since August, buoyed by renewed confidence in the outlook for Asia, survey data released today showed.
Sentix research group's index tracking morale among investors and analysts in the euro zone rose to 15.1 in November from 11.7 in October.
The reading was the highest since August and followed three months of falls in a row.
The consensus forecast in a Reuters poll was for a reading of 13.2.
"The reason for this improvement in sentiment is the return of confidence in the Asia region," Sentix said in a statement.
A slowdown in China had previously weighed on the business outlook in the euro zone.
"The current drama around the European refugee crisis is not weighing on economic expectations in the euro zone," Sentix added.
A sub-index of expectations for the euro zone economy rose to 14.3 from 10.5 in October, reaching its highest since August.Investors' assessment of the current situation also firmed, rising to 16 from 13.
An index tracking Germany, Europe's biggest economy, rose to 20.1 from 17.8. The rise bucked a weaker trend in much recent German data, such as the Ifo business climate survey which fell slightly in October.
The Sentix survey of 1,043 investors was conducted between November 5 and November 7.
