European consumer confidence records surprise November increase

ForexNewsNow | Published on November 22, 2010 at 11:29 am

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European Union flagNEW YORK (Forex News Now) – European consumer confidence rose unexpectedly in November to its highest mark since December 2007, the European Commission said Monday.

The index, which measures consumer sentiment in the 16-nation euro region, increased to -9.5 from the revised October mark of -10.9.

That reading was far more positive than the median forecast of -11 predicted by online FX trading news outlets.

The commission’s monthly report on economic confidence is set to be released on November 29.

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