European economic mood hits 14-month high

Berlin, Nov 27 (DPA) The economic mood in Europe continued to brighten in November, with a key sentiment survey released Friday rising to its highest level in 14 months.

The European Commission’s closely watched economic sentiment indicator for the 16-member eurozone rose from 86.1 points in October to 88.8 in November.

This took the indicator to its highest level since September last year when the implosion of the US investment bank Lehman Brothers helped to plunge world economy into its steepest recession in a generation.

Analysts had predicted that the indicator would edge up to 88.0 in November amid expectations that growth has been gaining ground in the eurozone economy, which climbed out of recession during the three months to the end of September.