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Eurozone Economic Sentiment Improves More Than Expected

Euro area economic sentiment rose more-than-expected in August to its highest level in five months, amid improvement in morale in all sectors except construction, survey data from the European Commission showed on Friday.

The economic sentiment index rose for a fourth straight month in August to 87.7 from 82.4 in July. Economists had forecast a score of 85.

The industrial confidence measure climbed to -12.7 from -16.2, surpassing expectations for -14.3.

The consumer confidence index climbed to -14.7 from -15, confirming its flash estimate released earlier this month.

The services confidence index rose sharply to -17.2 from -26.2, and the index reflecting the morale in retail trade climbed to -10.5 from -15.1.

Meanwhile, the confidence index for the construction sector slightly weakened to -11.8 from -11.4.

The employment expectations indicator for Eurozone improved for the fourth month in a row, gaining 2.9 points to 89.6.

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