The European Commission released its economic sentiment index for the Eurozone on Friday. The index increased to 104.2 in August from 104.0 in July, beating expectations for a decline to 103.8. It was the highest level since June 2011.

The increase was driven by improvements in the construction, services and retail trade sectors.

The industrial confidence index decreased to -3.7 in August.

The final consumer confidence index was up to -6.9 in August from -7.2 in July, in line with expectations. July's figure was revised down from -7.1.

The business climate index was down to 0.21 in August from 0.41 in July, missing forecasts of a decline to 0.34.