Euro zone economic sentiment jumped as confidence among manufacturers rose while...
BRUSSELS - Euro zone economic sentiment jumped as confidence among manufacturers rose while unemployment was at its lowest level in more than a decade, data showed on Thursday, but the mood may quickly turn sour as fears over the coronavirus epidemic mount.
The improvement was driven by higher confidence in industry, as factory managers were more upbeat on their production expectations and their stocks of finished products. The positive readings on sentiment and unemployment “are signs that the bottom in manufacturing is now getting close”, said Bert Colijn, a senior economist at ING bank.
But the overall industry mood remained below the long-term average both in Germany and in the euro zone. The indicator for the services sector, the largest in the euro zone, dropped slightly after three consecutive monthly rises.
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