Economic confidence in the European Union and the euro area rises in November, according to the European Commission's regular monthly survey released to the media.

The Economic Confidence Index (ESI) in the EU rose 0.5 points to 93.7 and in the euro area it rose 0.3 percent to 93.8 units. In October, the euro area recorded the lowest value of the indicator in three years.

In the EU, the slight improvement in the indicator is due to higher confidence among consumers and construction managers. Confidence in industry, retail and services remained generally unchanged, the analysis said.

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Among the largest EU economies, the index improved in the Netherlands (+2.9), France (+2.0) and Poland (+1.7), while it fell in Spain (-1.5) and, to a lesser extent, in Germany (-0.5) and Italy (-0.3).

Consumer confidence rose (+1.1) thanks to improved consumer assessments of the development of their households' financial situation as well as the general economic situation in their country, the report added.

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