Source Pravda.Ru

Economic upturn in Europe

The European commission has revealed that the levels of confidence among consumers and the business community showed an upturn in December, for the first time in one year. This would indicate that the four base rates cuts carried out by the European Central Bank had a positive effect on the economy.

The consumer confidence index rose from 98.6 to 98.8 points, despite a slight decrease in confidence rates from retailers, traditionally nervous in the run-up to Christmas and the New Year.

John ASHTEAD PRAVDA.Ru LONDON UNITED KINGDOM