Optimism in eurozone improves

Optimism in the eurozone’s economy improved sharply in August but high unemployment highlighted the fissure separating the recovering north from the struggling south.

Confidence among business managers polled by the European Commission rose for a fourth successive month in the eurozone, the EU executive said yesterday. The positive trend was particularly strong in Germany and the Netherlands but was also seen in Italy, France, and Spain.

The measure of sentiment across the currency bloc in August, based on business orders, industrial confidence, and other factors such as companies’ hiring plans, increased by 2.7 points to 95.2.