BRUSSELS (AP) — The European Union says economic sentiment across the 19-country eurozone has risen to near-decade highs as the recovery gathers steam across sectors and nations.
In a monthly survey published Thursday, the EU’s executive arm says its economic sentiment indicator for the eurozone rose 1.9 points to 111.1 in June, its highest level since August 2007.
The rise was broad-based across sectors, including industry, and among consumers. Sentiment was particularly strong in Germany and France, the eurozone’s powerhouse economies.
Over recent weeks, there have been increasing signs that growth in the eurozone is picking up.
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As a result, speculation is intensifying that the European Central Bank may soon signal its intention to rein back stimulus measures. Much will depend on whether inflation heads back up to levels policymakers are happy with.