Eurozone Consumer Confidence Rises More Than Expected In August

(RTTNews) - Eurozone consumer confidence increased more-than-expected in August to its highest level since mid-2011, preliminary data from the European Commission showed on Friday.

The flash consumer confidence indicator climbed to -15.6 from -17.4 in July. Economists had forecast a score of -16.5.

The latest confidence reading is the highest since July 2011, when it was -11. The confidence indicator rose for the ninth consecutive month.

Consumer morale improved strongly in the EU also, during August, with the indicator rising to -12.8 from -14.8 in July.

Final figures are scheduled to be released along with business and economic sentiment survey data on August 30.

Elsewhere, a survey released by the National Bank of Belgium showed that business confidence in the country surged in August, with the indicator rising to -8.6 from -12.

Confidence improved in the manufacturing industry, business-related services and trade and nearly stabilized in the building industry, the survey said.