Eurozone Investor Confidence Improves For First Time In 4 Months
(RTTNews) - Eurozone investor confidence improved for the first time in four months in August but the currency bloc is assessed to be in recessionary mode, survey results from the behavioral research institute Sentix showed on Monday.
After falling for three straight months, the Sentix economic index unexpectedly rose to -18.9 in August from -22.5 in July. The reading was seen falling to -23.4.
The assessment of current situation remains weak and underscores the current recessionary conditions. Meanwhile, their views on future development improved in August as the issue of inflation is losing some of its explosive power, the think tank said.
The current situation index held steady at -20.5 in August. The expectations index posted -17.3, up from -24.5 in the previous month. Investors are not positive about economic developments but the expected rate of deterioration is merely easing, Sentix noted. The economy in the euro zone remains in recession mode.
"The largest economy in the euro zone is becoming the sick man of the euro zone and is weighing heavily on the region," said Sentix.
Investor sentiment in Germany continued to nosedive to hit the lowest level since October 2022. The economic index fell to -30.7 in August from -28.4 in July.
The current conditions indicator slid to -35.3 from -28.0 a month ago. By contrast, the expectations index rose to -26.0 from -28.8 in the previous month.
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