[FRANKFURT] The eurozone economy has remained surprising resilient to the shock of Britain's vote to leave the European Union, fresh data showed on Thursday, a big contrast to the UK where signs of widespread economic pain are already apparent.
Eurozone economic sentiment improved this month, defying expectations for a decline, and German unemployment fell more than anticipated, supporting views that the bloc has so far shrugged off the impact of Brexit.
Still, Europe is unlikely to escape unscathed, economists argue. Export, investment and sentiment are likely to take at least a moderate hit in coming months as firms come to grip with the reality that Brexit in one form or another is irreversible.
"The stability/resilience in the euro area was broad-based across sectors in July and there is also nothing in the detail to suggest increased concern about the future," JPMorgan economist Greg Fuzesi said.
