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Ramadan KAREEM

Africa & World

Eurozone sentiment rose more than expected in February – Egypt’s economy

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Thursday’s data showed that economic sentiment in the euro zone rose more than expected in February, supported by growing optimism in the manufacturing and services sectors and among consumers, which boosted inflation expectations among producers and consumers.

A monthly survey of sentiment by the European Commission revealed that economic optimism in the 19 eurozone countries rose to 93.4 points this month from 91.5 points in January. Economists polled by Reuters had expected sentiment to rise to 92.0.

Sentiment in the manufacturing sector improved, to -3.3 in February from a revised reading of -6.1 in January and compared to expectations of -5.0.

Sentiment in the services sector, the largest in the euro zone economy, improved to -17.1 from -17.7 compared to expectations for a drop to -18.1.

Consumer sentiment rose to -14.8 from -15.5 last month.

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