Are companies and households short-sighted or is the euro zone’s situation not that bad?

Many cyclical indicators concerning the euro zone are negative. Yet: Companies are increasing their investment and employment; Household confidence is rising. Either companies and households are short-sighted , or they are aware of the mechanisms (economic policies, high corporate profitability, rise in real wages and real incomes, etc.) that are boosting activity in the euro zone. In the past, a deterioration in cyclical indicators (PMIs) always pointed to a loss of growth and rising unemployment; has the way to respond to these business outlook surveys become different now adays ?