Eurozone economic sentiment rose for the fourth successive month to its highest level in nearly four years, exceeding economists’ expectations, survey figures from the European Commission showed Monday.

The economic sentiment index climbed to 103.9 from 102.3 in February, revised from 102.1. Economists had expected a score of 103.

The latest reading was the strongest since July 2011, when it was 104.

Strong improvements were registered in the sub-indexes for consumer, industry and retail trade.

Morale among consumers was the highest since July 2007, and the relevant index surged to -3.7 from -6.7. The reading matched the flash estimate released earlier in the month.

The industrial confidence index surged to -2.9 from -4.6, marking it strongest level in ten months.

Sentiment in the retail trade industry was the strongest since February 2011, and the index jumped to -0.7 from -1.3.

The services confidence index climbed to 6 from 5.3, after holding steady in the previous month. The sentiment index for the construction sector rose to -24.2 from -25.1, improving for a second straight month.

Separately, the European Commission released the business climate indicator for the euro area, which climbed to 0.23 in March from 0.09 in February.

Managers’ production expectations, as well as their views on the level of past production, overall order books and export order books improved significantly, while their assessment of stocks of finished products remained virtually unchanged, the report said.

The material has been provided by InstaForex Company –