Morale in the euro zone rose for the second straight month in November as a pick-up in industry sentiment just outweighed increased pessimism among consumers, offering a tentative sign that the bloc is avoiding outright stagnation.
The European Commission said on Thursday that economic sentiment in the 18 countries sharing the euro rose to 100.8 this month from 100.7 in October and 99.9 in September. Economists polled by Reuters had expected a decline to 100.3.
The optimism was mirrored by a rise in the business climate indicator for the euro zone, which the Commission said stood at 0.18 in November, up from a revised 0.06 in October.
Following a crisis that nearly broke up the bloc, the euro zone is suffering from very low inflation and a recovery so fragile that it is dragging on global growth, while unemployment remains near record levels.