Feb. 24 (Bloomberg) -- The euro area’s economic slump eased in February as companies and consumers grew more confident, the Eurocoin index showed.

The gauge measuring economic activity in the 17-nation region rose to minus 0.06 percent from minus 0.14 percent in January, the London-based Centre for Economic Policy Research and the Bank of Italy, which co-produce the index, said today in an e-mailed report.

The reading “is due mostly to less pessimistic evaluations of firms and consumers,” according to the report.

The index, which includes price figures and stock-market performances, industrial production and business and consumer confidence readings, aims to provide a real-time estimate of economic growth.

--Editor: Jeffrey Donovan

To contact the reporter on this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net