ACCORDING to a survey by European Commission, economic
confidence in the euro area increased more than economists forecast in February,
adding to signs that the 17-nation currency bloc may be emerging from a
recession. An index of executive and consumer sentiment rose to 91.1 from a
revised 89.5 in January, the European Commission in Brussels said last week.
Economists had forecast an increase to 89.9.
The
commission's survey indicates how sentiment was shaping up before an
inconclusive election in Italy on February 24-25 renewed market convulsions over
Europe's debt crisis as recession scarred voters repudiated budget rigor. Things
have improved a little bit in the Euro zone, but economic conditions are still
extremely tough across the region. The Italy situation could renew these market
pressures and reinforce the fact that the Euro zone still faces huge pressures,
both economic and political. Britain's economy shrank in the fourth quarter as
exports fell and an uncertain outlook depressed company investment.
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