Consumer sentiment in the euro area rose to the highest level since last February, a sign of resilience as the region seeks to dodge recession this year.
(Bloomberg) — Consumer sentiment in the euro area rose to the highest level since last February, a sign of resilience as the region seeks to dodge recession this year.
The gauge of confidence increased to -20.9 in January from -22.2 the previous month, according to the European Commission. That’s slightly weaker than the median forecast of economists, who anticipated a pickup to -20.
Eurogroup head Paschal Donohoe, who chairs the group of finance chiefs from the 20-member euro zone, said last week the currency bloc is resilient and is likely to avert recession with a very low level of growth this year.
Commission Vice President Valdis Dombrovskis told Bloomberg Television that falling gas prices and recovery fund spending may help the European Union dodge recession.
–With assistance from Barbara Sladkowska and Joel Rinneby.
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