Confidence in the Eurozone Grew More Than Expected This Month

Attitudes in Greece, Italy, and Spain changing

(Reuters)—Confidence in the euro zone economy grew by more than expected in May, with hope that the worst of the crisis may be over spreading to countries that have been on its frontline.

Economic morale in the 17 states that use the euro increased by 0.8 point to 89.4, the European Commission said. Economists polled by Reuters had expected an increase to 89.0.

"This is in line with a moderate improvement, but we need to see this sustained," said Francois Cabau, an economist at Barclays Capital. "We also need to see this translate into the real growth."