Eurozone Investor Confidence Sinks On Recession Concerns - Sentix

RTTNews | Před 708 dny

(RTTNews) - Euro area investor confidence dropped sharply in June, led by the "problem-child" Germany that already entered a technical recession in the first quarter, as fears of a severe economic downturn intensified, results of the latest survey by the behavioral research institute Sentix showed Monday. The Sentix investor confidence index weakened for a second month in a row and dropped to -17.0 from -13.1 in May, the monthly survey from Sentix showed. Economists had forecast a score of -15.2.

The current situation index of the survey plunged to -15.8 from -7.0. The measure declined for a second straight month.

"The situation values signal recessionary tendencies," Sentix said. However, the expectations index climbed for the first time in four months in May with the reading rising to -18.3 from -19.0. Germany's investor confidence index sank to -21.1, the lowest since November. The current situation index for the country dropped to -22.0 and the expectations measure fell to -20.3, marking their lows since November and December, respectively. The German economic policy is "a nightmare that is now clearly beginning to affect the entire Eurozone", Sentix said.

The Sentix survey was carried out from June 1 to 3 among 1,197 investors.

The German economy shrunk 0.3 percent sequentially in the first quarter, after a 0.5 percent contraction in the previous three months, as high inflation hurt household consumption, official data showed last month.

Two consecutive quarters of output contraction is defined as a technical recession.

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Eurozone Investor Confidence Sinks On Recession Concerns - Sentix