European Economic Recovery Strengthens for 2nd Month,

The economic recovery in the euro area was strengthened in November for the second consecutive month executives and business consumers became more optimistic about the prospects, the index showed EuroCoin.

The monthly index measuring economic expansion in the 16 nations sharing the single currency rose to 0.45 percent from 0.41 percent in October, the London-based Centre for Economic Policy Research and Bank of Italy , who co-produce the index, said in a faxed statement today.

"The increase was primarily due to improved business and consumer confidence," the statement said. This month's level indicates a growth rate of just under 2 percent. "

The index, which includes figures on prices and stock market performance, industrial production, business and the reading of consumer confidence, is to provide a real-time estimate of economic growth, the report said.