Eurozone economic sentiment up again in July

Economic sentiment in the 16 countries that use the euro is at its highest level for over two years, the European Commission said Thursday.

In its monthly survey, the Commission said its sentiment indicator for the eurozone rose to 101.3 points in July from 99 in June. Most analysts were not expecting much of a change. The July level is the highest since March 2008 and provided further evidence that the eurozone economic recovery is gathering pace even at a time when the U.S. economic data has generally disappointed.

The Commission said the majority of countries in the eurozone posted improvements during the month, with Germany, Europe's biggest economy, registering the biggest increase. However, it wasn't all good news, with sentiment down sharply in Spain and Greek confidence worryingly low in a sign that the most indebted European countries still have a way to go.
For more: The Associated Press: Eurozone economic sentiment up again in July