The economic sentiment and business climate indicators have continued their monthly climb from historic lows in March, although both remain well below average, according to new Eurostat data. The Economic Sentiment Indicator rose 4.1 points in December to 92 in the EU and was up 2.5 points to 91.3 in the eurozone. Meanwhile, the Business Climate Indicator - which measures eurozone managers' assessments of the business outlook - was -1.22 last December, up from -1.53 in November. In March last year it was -3.27.

Eurostat says that the increase in the business indicator "reflects an across-the-board improvement in managers' assessments," with the perception of the production trend and order books going up strongly. Companies are also continuing to offload extra stock that had built up over the course of the crisis.

Most member states registered an increase in economic sentiment, although Denmark, Hungary, Poland, Portugal...

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