ECONOMIC SENTIMENT INDICATORS : EU ECONOMY BACK ON TRACK - EUROSTAT.

• Position: Brief article

Economic sentiment was up again in January, by 2.1 points to 97.1 in the EU and 1.6 points to 95.7 in the eurozone, indicating that it could approach pre-crisis levels in two or three months. Business sentiment is also on the rise, but remained stuck in negative territory at -1.12, Eurostat said, on 28 January.

The long-term average for economic sentiment is 100 points, but it reached an all-time high of 115.1 in the EU (116.3 in the eurozone) in May 2000. Its lowest ebb was in March last year, when it plunged to 68 in the EU and 70.6 in the eurozone. It began its descent in July 2007, coinciding with the subprime crisis in the US.

The January rise was mainly down to more confidence in industry, where managers reported stronger order books and production expectations. Consumers' confidence showed only a marginal increase in the 27 member states (one point) and remained static in the eurozone. "The general economic outlook and decreasing unemployment fears...