Eurozone data to show upturn in confidence as euro eases
The logo of the euro. Eurozone indicators to be released in the coming week will show confidence is improving as a result of the easing of the euro but that inflation is climbing on high oil prices, economists said. Eurozone indicators to be released in the coming week will show confidence is improving as a result of the easing of the euro but that inflation is climbing on high oil prices, economists said. "We expect moderate increases in the headline indicators," UBS economist Ed Teather said of German, French and Italian confidence indicators due out during the week. Credit Suisse First Boston economists said of Germany's all-important IFO survey to be published on Tuesday: "German business confidence should continue to benefit from a weaker euro and the prospects of political change in July." They said another rise in the IFO "would be a clearer sign of a turning point in business confidence" than anything seen to date. Equally, French business confidence and a key component in the index are forecast to rise. "We expect improvements in both measures in July," HSBC economists said of the report due out on Wednesday. Of overall eurozone sentiment, UBS's Teather said: "We looking for a similar outcome from the July euro area surveys of business and consumer confidence." HSBC economists said of the report to be published on Friday: "In June, business confidence rose for the first time since October 2004, and there may be a further improvement in July given signs of continuing robust growth."
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