·
Recent
releases of several indicators of confidence among businessmen and
consumers in the Euro-zone suggest that, on balance, confidence is
improving. The IFO indexes of business confidence for West
and East Germany have risen steadily since April and May, respectively,
and are now well above year ago levels. While still below year ago
levels, business confidence in Belgium has improved steadily since March
of this year. Business confidence in the Netherlands declined
slightly in November but is still well above the low of -10.1 reached in
June of this year.· Consumers in the Netherlands and Belgium have seen some improvement in their current economic situation and, as a result, have become more confident. Consumers in Italy, on the contrary, continue to view negatively both their current situation and the outlook for the next twelve months. As a result, they have become even more pessimistic.