The mounting industrial production expectations boosted economic sentiment in the Eurozone more than expected in November, as per official data on Friday. However, the growing consumer optimism persistently rose to recover from August lows. A monthly survey by European Commission showed economic conditions in the 16 countries that use the euro rose to 88.8 points from October's 86.1, making an eighth straight month of improvement and indicated hopes for recovery in the coming months. Analysts expected a modest increase to 87.7, the boost was however higher than anticipated. Britain and Sweden, non-euro members signalled increased 1.9 points to 87.9 in the economic condition. The Commission said, "Sentiment in industry ... was the main contributor to the overall improvement While most managers reported small improvements in their order books, it was production expectations which had the largest positive effect overall". Industrial sentiment rose 2 points in Eurozone and one point in the EU, and both rose to -19. The Commission said consumer's confidence also went up in the Eurozone, with the index rising to -
17 from -18, and construction sentiment rose to -26 from -29. In another survey, the Commission said its business climate indicator increased for the eighth month in the euro zone to - 1.56 in November from - 1.79 in the previous month.
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