Eurozone economic sentiment at year’s high as growth concerns shrug off

Eurozone’s economic sentiment, as measured by the Sentix index reached a level of 2016 high as consumers and investors shrugged off concerns over the Euro area’s growth prospects amid the ongoing UK exit referendum.

The index hit 9.9 percent in June, breaching 6.2 percent in May and exceeding market expectations of 7.0, according to a survey of economists, reports said.

Investors and analysts were particularly upbeat about the coming six months, with expectations rising by 5.5 points to 10.

Despite evidence of a slowdown in US jobs growth, those surveyed were "especially delighted by the progress of the US economy" said Sentix.

The survey came in after the European Central Bank struck a dovish tone at its latest monthly policy meeting last week, insisting that it stood "ready, willing and able" to boost its stimulus measures in inflation and growth continued to flail.

"The latest figures raise hope that the downtrend that has been prevailing since last year has finally halted", said Sentix.