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Eurozone business confidence broadly flat

Date: Thursday 28 Aug 2014

Eurozone business confidence broadly flat

Specifically, the business climate indicator ticked down to 0.16, from July's reading of 0.17. However, the number was better than the fall to 0.10 that consensus had expected.

“Manager's more optimistic appraisals of past production and, to a lesser extent, expert order books were offset by a a marked decrease in their assessment of expected production,” the Commission said in the release.

Among other Eurozone confidence data, the Commission noted that economic sentiment fell to a December 2013 low after five months of broadly flat development. Specifically, the indicator dropped from a revised 102.1 to 100.6, missing expectations for a smaller decline to 101.5.

“Worsened sentiment resulted from deterioration in retail trade, consumer, industry and, to a lesser extent, services confidence”, the Commission said.

JM

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