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Home BUSINESSCorporate confidence rising in euro area
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Sat, 31 Aug, 2013 12:34:12 AM
Corporate confidence in the economy has risen sharply in the euro area this month, news agency STT reported quoting Reuters.
The legitimate growth of European Commissionis particularly evident in Germany and the Netherlands, but can also be seen in France, Italy and Spain.
“The most acute phase of the crisis, and the loudest belt tightening period is over,”Goldman Sachs economist Dirk Schumacher estimated. 
The increase in economic confidence has been overshadowed by the continuing high unemployment rate.
The euro area average unemployment rate has remained at a record high 12.1 percent. 
Unemployment rates vary greatly from country to country.
In Germany, unemployment is more than five per cent of the labor force, the unemployment rate in Greece is 28 and 26 per cent in Spain.
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