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Eurozone economic confidence dips to 16-year low |
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21:56, October 30, 2008 |
Economic confidence in the euro zone dipped in October to its lowest level in 16 years, a survey from the European Commission showed on Thursday.
The economic sentiment indicator in the 15-nation bloc sharing the euro fell by 7.1 points to 80.4 in October, a record low level since 1993. It was also the sharpest drop in one month since the survey started in January 1985.
Weakening confidence intensified widespread concern that the eurozone economy is on the verge of recession due to the financial crisis.
Source:Xinhua
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