Euro-Area Economic Confidence Unexpectedly Rises on Services

Euro-area economic confidence unexpectedly increased in February, led by the services industry, easing pressure on the European Central Bank to take action next month to counter low inflation and spur growth.

An index of executive and consumer sentiment rose to 101.2, the highest reading since July 2011, from a revised 101 in January, the European Commission in Brussels said today. That beat the median estimate of 100.7 in a Bloomberg News survey of 31 economists.