Euro Zone Business Confidence Hits Two Year High

A report based on a survey of 25,000 companies within the dozen countries sharing the euro showed business confidence in the euro zone has risen to the highest since June 2001. The business confidence index increased to minus seven in November from minus eight in line with economist forecasts, the European Commission said in Brussels on Friday. The consumer confidence index rose to minus 16 from minus 17. The index also showed that consumers had become more optimistic as an export-led economic recovery gains strength. Executives in Germany, France, Italy and Belgium grew more optimistic this month as the fastest U.S. expansion in almost two decades in the third quarter spurred demand for European goods, private and government reports showed this week.