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Europeans are shopping again

14 Apr 2014

Europe is shopping again, again to the European Commission's latest index. Consumer confidence is

at its highest in almost three years and 2014 seems to be a buoyant year for recovery for many retailers and fashion businesses.

Eurozone economic sentiment rose for an 11th month running in March to a 32-month high, sparking hopes that the single-currency area can gradually see economic recovery as 2014 progresses.

In terms of figures, the European Commission's economic sentiment index for the Eurozone increased to 102.4 in March, from 101.2 in February, 101.0 in January, 100.4 in December, and 89.0 in April 2013. The index is up from a 38-month low of 85.8 in October 2012.

Most countries saw an overall pick-up in confidence, including Germany, France, Italy, Spain, the Netherlands, Portugal and Greece. Confidence rose to new highs in the services sector with retail at a 33 month high.

Looking ahead, the hope for the Eurozone is that current rising confidence will encourage businesses to lift their employment and investment plans, analysts at IHS Global Insight said.