‘Europe is beginning to emerge from the doldrums’

FRENCH business confidence rose in July for the first time since December, and consumers became more optimistic in Germany and Britain, adding to evidence that Europe’s three biggest economies may recover later this year.

An index based on a survey of about 2,000 companies rose to 91 from June’s 20-month low of 90, said Insee, the Paris-based statistics office. The GfK AG market research company’s index of German consumer confidence, compiled in July, gained for a fifth month. A similar index for Britain rose to an eight-month high.

“Europe is beginning to emerge from the doldrums,” said Margaret Poigny, a strategist at Credit Agricole Asset Management in Paris, which oversees €165 billion ($188 billion). She predicts growth in the 12 nations sharing the euro will accelerate to 1.6% next year from 0.6% this year.