Eurozone economic confidence beats expectations in October

According to the European Commission, the index monitoring economic confidence in the 19-bloc country rose from 105.6 to 105.9 this month, reaching its highest level since June 2011 and exceeding forecast for a slight decline to 105.1.

The figure showed that Eurozone-based businesses are becoming slightly more optimistic about the outlook of the economy, despite warnings from the European Central Bank that sluggish growth in China and other emerging markets could weigh on sentiment.

Last week, the ECB president Mario Draghi hinted Brussels policymakers were open to implement fresh stimulus measures to boost the Eurozone economy, although the pickup in economic confidence might cast doubts over the need for renewed easing policies.