The European Commission (EC) said on Thursday its flash estimate showed the consumer confidence indicator for the Eurozone increased by 1.5 points to -6.6 in February from the previous month. That was the highest level since September 2019.

Economists had expected the index to worsen to -8.2.

Considering the European Union (EU) as a whole, consumer sentiment rose by 1.2 points to -5.9.

Despite these gains, both indicators remain well above their respective long-term averages of -10.6 (Eurozone) and -10.2 (EU), the report said.