2010.07.2906:52:00UTC+00Eurozone Economic Sentiment Rises More Than Expected

The eurozone's economic sentiment indicator rose to 101.3 in July from 99.0 in June, the European Commission said on Thursday. This was higher than analyst forecasts for a score of 99.1.

The EC's indicator for consumer confidence, meanwhile, rose to -14 from -17, in line with preliminary estimates. More optimism about the general economic situation and easing unemployment fears in Germany contributed to the improvement.

Meanwhile, an index measuring confidence in the manufacturing sector rose slightly to -4 from -6, missing expectations for a reading of -5. The commission also said the business climate indicator for the euro area increased to 0.66 from 0.40. Economists were looking for a score of 0.39.

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