The European economic climate improved markedly in August, the European Commission said on Friday, citing a survey that has shown increased optimism in nearly all sectors and in crisis-hit countries such as Italy and Spain.
The Economic Sentiment Indicator (ESI) increased by 2.7 points to 95.2 points in the euro area and by 3.1 points to 98.1 points in the EU, reaching its highest value in two years.
The improved economic climate in the euro area is the result of considerably stronger optimism among consumers and managers in the manufacturing, services and retail sectors. Expectations worsened only in the construction sector.
The biggest improvement was recorded in the Netherlands, where the index rose by 5.2 points, and in Germany, where it increased by 3.3 points. It also went up in Italy (2 points), France (1.6 points) and Spain (0.8 points).
In Croatia, the ESI increased by 0.6 points from July to 105.4 points. Expectations in the services and retail sectors improved, while those in the manufacturing and construction sectors deteriorated. A negative trend was also recorded with regard to consumer confidence.
The Croatian index was included in the survey on July 1 when the country joined the EU.
