2010.08.3006:14:00UTC+00Eurozone August Economic Confidence Rises More Than Expected

Eurozone economic confidence rose in August to 101.8 from 101.1 in July, a monthly survey from the European Commission showed Monday. The economic sentiment index remained above its long-term average and expected reading of 101.6.

Consumer confidence improved to minus 11 in August from minus 14 last month. Confidence in services rose to 7 from prior month's level of 6. Retailers confidence remained unchanged at minus 4.

Sentiment in industry also remained unchanged at negative 4 in August, in line with expectations. The majority of respondents in this sector reported sizeable improvements in their order books. However, managers were cautious regarding their production expectations.

The business confidence index in August unexpectedly fell to 0.61 from a revised reading of 0.63 in July. Consensus forecast was 0.70.

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