Business activity in the eurozone's three biggest economies continues to drive the economic bloc, as data on Tuesday from Germany, France and Italy displayed.
Germany's influential Ifo research institute reported business confidence at a record high, while France's business climate index held at a six-year high, and Italian industrial orders and sales bounced strongly.
The business climate in Germany improved in July according to the Munich-based Ifo institute, as its headline index climbed to 116 from 115.2 in June. Analysts had expected a dip to 114.9.
"Sentiment among German businesses is euphoric," said Professor Clemens Fuest of Ifo, as current conditions and the near-term outlook improved stongly.
Its manufacturing index hit a new peak as capacity utilisation rose to 86.7% and construction also rose to record levels, but retailers expressed concerns about current conditions.
The report contrasted slightly with Monday's purchasing manager survey that indicated slowing growth in the eurozone's largest economy.
"A strong headline adds upbeat counterbalance to Monday's slightly underwhelming PMIs," said Claus Vistesen chief eurozone economist at Pantheon Macroeconomics. He added: "These data send a clear signal of robust and broad-based growth in the German economy."
French business climate
A similar measure in France from its main statistics office INSEE showed business sentiment to be unchanged at 109 in July after the June measure was revised up by a point from 108.
Analysts suggested that business confidence was still receiving a boost from the election of President Macron in May.
New orders rose and expectations of higher levels of production also provided a boost to the index and sentiment rose across most sectors.
Vistesen at Pantheon said: "Another solid headline in these data, indicating that French business leaders remain upbeat about the country’s new political leadership."
Data from the eurozone's third-largest economy was more historical, however, measuring industrial orders from May.
The figures, however, showed a strong bounce from disappointing levels seen in April. Year on year, industrial orders rose by 13.7% in May after falling by 2.2% in the previous month.
Sales also rose in the industrial sector thanks largely, analysts said, to rising levels of activity elsewhere in the eurozone.