Euro-Area Confidence Rises to 89.4 in May as End to Recession Nears
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Amid impending recession, confidence in the euro-area showed a surprising increase in May.
According to data from the European Commission (EC), consumer and executive sentiment rose to an index level of 89.4 in May, versus 88.6 last month.
An index of sentiment among European manufacturers increased to minus 13, from 13.8 previously reported. Services confidence rose to minus 9.3 from minus 11.1 and consumer confidence improved to minus 21.9 from minus 22.3, data showed.
Data from Bloomberg shows that the 18-month euro-area recession is expected to end in Q213. The area reported GDP of minus 0.2 percent in Q113.
U.S. market futures are indicated higher ahead of the bell Thursday.
According to data from the European Commission (EC), consumer and executive sentiment rose to an index level of 89.4 in May, versus 88.6 last month.
An index of sentiment among European manufacturers increased to minus 13, from 13.8 previously reported. Services confidence rose to minus 9.3 from minus 11.1 and consumer confidence improved to minus 21.9 from minus 22.3, data showed.
Data from Bloomberg shows that the 18-month euro-area recession is expected to end in Q213. The area reported GDP of minus 0.2 percent in Q113.
U.S. market futures are indicated higher ahead of the bell Thursday.
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