Economic confidence in the eurozone has surged to its highest level since the early years of monetary union, as the bloc enjoys a surprisingly robust recovery in a year that has seen major European elections.
Germany led the European Commission’s official monthly measure which surveys confidence in sectors across the EU’s 28 member states, turning in the best performance in the eurozone. A month after Angela Merkel’s Christian Democrats emerged from elections as the biggest party in parliament, the country’s economic confidence rose 2.1 points to reach a six-year high in October.
Confidence across the eurozone as a whole rose 0.9 points to 114.2 — its highest level since January 2001 and the 14th consecutive monthly rise. October’s uptick was driven by strength across the bloc’s major economic sectors, including industry, retail and construction.