Eurozone Consumer Confidence Hits 16-Year High

By Nina Adam Features Dow Jones Newswires

Consumer confidence in the eurozone picked up sharply in June, beating forecast, a sign that the region's economic recovery is deepening.

Continue Reading Below

The European Commission on Thursday said its measure of consumer sentiment across the 19-member currency area rose to minus 1.3 from minus 3.3 in May--its highest level since April 2001.

The outcome, which beats economists' forecasts of a reading of minus 3.0, reflects a pickup in economic growth and an improving labor market.

The eurozone is enjoying its most protracted growth spurt in almost a decade and unemployment has fallen to an eight-year low of 9.3%.

Write to Nina Adam at nina.adam@wsj.com

(END) Dow Jones Newswires

Continue Reading Below

June 22, 2017 10:47 ET (14:47 GMT)