The European Commission just confirmed the strongest consumer confidence in the eurozone since mid-2007.
As measured by the EC, the confidence index rose to -3.7, from -6.7 in February. Those are the best readings seen since mid-2007.
Consumer confidence rose pretty solidly between the end of 2012, when it seemed like the euro crisis was finally in the rear view mirror, up to mid-2014.
The block had something of a relapse last year — though it had only just come out of recession, weak economic data suggested there could be another (which would have been the third in six years).
But after dipping a bit during the Autumn and early Winter, consumer confidence is now really powering ahead again.
At 103.9, “economic sentiment” as measured by the European Commission is also climbing. At 103.9, it’s at its highest since mid-2011.
What’s more, today’s data show us that the current upswing has a nice broad base.
At -2.9, industrial confidence is at its highest level since September 2011, while at 6, services sentiment is higher than it’s ever been (measurements only started two years ago)