Eurocoin indicator, a measure of economic climate in the euro area, rose for a third consecutive month in February to its highest level in eight months, survey data from the Bank of Italy and the think tank CEPR showed Thursday.

The eurocoin indicator, designed to reflect the current economic situation in the Eurozone, climbed to -0.20 from January's -0.23. The score is the highest since June last year.

The modest improvement is ascribable chiefly to the favorable results of the surveys on industrial firms' confidence, the report said.