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Euro-Area Confidence at Highest in 21 Years As Economy Reopens
Confidence in the euro-area economy improved to the highest level in more than two decades in June as a reopening of shops, restaurants and other services propelled the region’s recovery from the pandemic crisis.
A European Commission sentiment index increased to 117.9, exceeding almost all estimates in a Bloomberg survey. The gain was driven by surging optimism in services, though industry, retail trade and construction also improved.
The region’s economy is rebounding rapidly as infection rates drop and pandemic restrictions are lifted. Many countries expect demand over the summer months to surge as travel and business activity resumes, though some are still exercising caution over the spread of Covid-19 variants.
Euro-area services posted the fourth “significant” improvement in a row, and industrial confidence reached an all-time high.
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