There were hopeful signs of a euro zone recovery Friday (August 28), as August saw economic sentiment rise for a fourth consecutive month.
The European Commission said that confidence soared to 87.7 points....
Above analyst expectations, and up from 82.4 in July.
The new pick-up confirmed a gradual rebound from May, and was mostly driven by optimism in the service sector.
It remains in negative territory, but rose to -17.2 in August... up from -26.2 in July.
Confidence also rose in the industry and retail trade sectors, although factory managers were not so optimistic.
Their production expectations edged down after three straight months of improvement.
There were warning signs from European powerhouse Germany, though.
While expectations for the broader economy improved for a fourth month in a row.
German consumer morale fell back going into September.
The Gfk institute said on Friday its consumer sentiment index fell to -1.8.
It followed three consecutive increases from June to August.
It also raised doubts on whether household spending is powerful enough to drive a strong recovery.