European economic sentiment hits three-year high

The economic mood in Europe hit its highest level in three years in November despite the market turmoil unleashed by the region's debt crisis, a survey released Monday showed.

The European Commission said its closely watched economic sentiment index (ESI) for the 16-member eurozone rose to 105.3 this month from 103.8 in October.

This represents the index's highest level since October 2007. Analysts had expected the index, which measures the mood both among industry and consumers, would climb to 105 this month.

For more: European economic sentiment hits three-year high - Monsters and Critics