Economic sentiment in the crisis-battered eurozone has improved, data showed Wednesday, continuing an upward trend that began in November.
"Industry confidence improved in the euro area and the EU, fuelled by a much more positive assessment of production expectations and the current level of overall order books," the bloc's executive said as it released its closely watched Economic Sentiment Indicator (ESI).
The index in the 17-member eurozone increased by 1.6 points in February to 91.1, exceeding analysts' expectations.
In the wider 27-member European Union the ESI rose 1.2 points to 92.0, according to the European Commission.
The improvements were driven by increases in industry and services, the commission wrote. Consumer confidence had also improved marginally, while retail trade and construction both saw moderate decreases.
Economic sentiment improved in six of the seven largest EU member states, rising by an above-average 2.5 points in Germany, 1.5 points in Spain, 1.3 points in France, 0.8 points in the Netherlands, 0.5 points in Poland and 0.3 points in Italy.
In Britain however, sentiment slipped by 0.5 points, amid economic concerns that saw Moody's ratings agency downgrade the country from its AAA status on Friday.
The Business Climate Indicator, another eurozone index compiled by the commission, also posted a significant rise, increasing by 0.36 points to -0.73, far exceeding analysts' expectations.