Euro-Area Consumer Confidence Improves More Than Expected

Euro-area consumer confidence increased more than expected in July, an encouraging sign for the 20-nation currency bloc. The reading of -15.1 — after -16.1 in June — compares with an economist estimate of just -15.8. The European Commission said improvement shows that the gauge “is slowly but steadily recovering toward its long-term average.” The data come hours after revised Eurostat numbers revealed that the region avoided a winter recession after all.