Eurozone Investor Confidence Weakens In October: Sentix
(RTTNews) - 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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