Monday September 22, 2014 Search
Weather | Athens
31o C
22o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurozone consumer morale brightens in March

By Martin Santa

Optimism in the eurozone's economy brightened more than expected in March, as European consumer confidence showed its strongest monthly jump in nearly five years.

The lift will encourage those in the European Central Bank who have been grappling with sluggish price rises, despite setting the cost of borrowing at close to zero. The ECB meets on April 3 to set its borrowing rate.

The European Commission data on Friday showed that morale across the 18-nation bloc increased to 102.4 from February's level of 101.2, exceeding market expectations of 101.4.

The data means that consumer confidence has improved sharply this year to swing above its long term-average for the first time since July 2011.

Sentiment in March in the Netherlands jumped by 2.3 to 100.3, followed by a 2.2 improvement in Spain. Italy rose by 1.3, France by 0.7. Morale in Germany, Europe's strongest economy, brightened by 0.4.

The lift in consumer confidence outstripped industry.

The European Commission said that increases in services and retail trade confidence were comparatively modest and industry and construction sentiment remained broadly unchanged compared to February.

"Consumer confidence was particularly buoyant, registering the sharpest monthly increase since April 2009," the European Commission said.

"Consumers' views on the future general economic situation and the level of future unemployment, as well as their savings expectations improved sharply," it added.

The bloc's unemployment, however, remains close to record highs at 12 percent. Job creation in the final three months of last year, however, rose for the first time in nearly three years.

While employment plans were revised upwards in retail trade and construction, they remained virtually unchanged in industry and services. Manufacturers' expected selling prices, by contrast, declined across the board.

The business climate in the 9.5 trillion euro economy was broadly unchanged at 0.39 in March, compared with 0.36 in February, data showed. Analysts polled by Reuters saw the reading at 0.40 in March.

The Commission said managers' predictions of production output improved, although their order books were less full. [Reuters]

ekathimerini.com , Friday March 28, 2014 (12:24)  
Greek firms efforts to lure investors eclipsed by ECB tests
Stocks post correction after Fridays major gains
New 10-euro note goes into circulation on Tuesday
European bonds rise as China, G-20 warnings curb scope for yield
Prosecutors may be enlisted in civil service evaluation
Tensions between the government and SYRIZA on the thorny issue of an evaluation scheme for the civil service demanded by the troika intensified Monday with Administrative Reform Minister Kyr...
Three hurt as coast guard chase smuggling vessel in the Aegean [Update]
Three people were injured Monday after a Greek coast guard vessel chased suspected human traffickers between the Dodecanese islands of Pserimos and Kalymnos. On spotting the smuggling vessel...
Inside News
SOCCER
Reds beat Veria to claim league lead
Olympiakos thumped hitherto Super League leader Veria 3-0 on Saturday to go alone on top of the table for the first time after four rounds of games. Four days after putting three past Atleti...
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
Inside Sports
COMMENTARY
Universities threatened by transfers
The problem arising from the abuse of the Greek university transfer system whereby some students are allowed to move to an institution of their choice instead of the one they were admitted...
EDITORIAL
Capital changes
A sizable part of the middle of the Greek capital has been slated to receive a significant makeover with the implementation of an urban restructuring project which includes turning a key cit...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Prosecutors may be enlisted in civil service evaluation
2. Greek firms efforts to lure investors eclipsed by ECB tests
3. Three hurt as coast guard chase smuggling vessel in the Aegean [Update]
4. Greece responds to FYROM flag stunt on Mt Olympus
5. Stocks post correction after Fridays major gains
6. Jailed GD MP shown teaching kids how to give the Nazi salute [Video]
more news
Today
This Week
1. Alexander the Great's tomb not at Amphipolis, says Culture Minister
2. Euro touches 14-month low before Draghi testimony
3. Venizelos denies jihadis are being trained in Greece
4. Draghi effect subsiding leaves pressure building on ECB chief
5. Civil servants' union calls new strike over evaluation
6. Investors snap up euro zone banks, exporters in ECB bet
Today
This Week
1. Greece at bottom of social justice scale among EU28
2. Greece can meet its needs on its own
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Record sum of new debts to the state in August
6. Democracy under Pressure | Live Streaming
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.