Eurozone Investor Confidence Weakens In October: Sentix
October 09 2023 - 3:58AM
RTTF2
Eurozone investor sentiment deteriorated in October reflecting
the recessionary trends in the currency bloc, especially in
Germany, while expectations among investors improved but it would
be premature to declare a turnaround, survey data from the
behavioral research institute Sentix showed Monday.
The investor confidence index dropped to -21.9 in October from
-21.5 in September, the think tank said.
The survey was conducted among 1,222 investors between October 5
and 7.
At -27.0, the current situation index hit the lowest since
November 2022. The indicator suggested that the recessionary
tendencies in the economy continue to persist, Sentix said.
However, providing a mild ray of hope, the expectations index
improved to -16.8 from -21.0 a month ago. This was the highest
reading since April.
Nonetheless, this improvement does not yet indicate a
turnaround, Sentix said. A negative value means that investors'
assessment of the economy in six months is weaker than their
assessment of the current situation.
Meanwhile, investor confidence in Germany improved in October,
but Sentix said the two-point increase in the index should not be
overestimated. The situation remains tense and the German economy
is in a recessionary phase, the institute added.
The German investor sentiment index rose to -31.1 in October
from -33.1 in September.
The situation index weakened for the sixth straight month, to
hit -39.5 in October compared to -38.3 a month ago. The score was
the lowest since July 2020. By contrast, the expectations index
climbed to -22.3 from -27.8 in the previous month.
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