Economic sentiment rises in Europe

Jan. 30, 2014 at 12:53 PM

BRUSSELS, Jan. 30 (UPI) -- An index of economic confidence rose in January for both the eurozone and the European Union, the European Commission said Thursday.

The Economic Sentiment Indicator rose by 0.5 points in the eurozone to 100.9 and by 0.9 points in the 28-member European Union to 104.7, the commission's news agency Europa said in a release.

The indicator is a composite measure of business confidence in the manufacturing, service, retail, construction and consumer sectors of the economy.

Europa said economic sentiment rose in the two largest economies in Europe, Germany and France, climbing by 0.7 points and 1.1 points, respectively.

The index held steady in the next largest economies, Spain and Italy, and fell 1 percent in the Netherlands, the fifth largest economy in Europe.

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