Economic Indicators

Drop in euro zone investor mood slows in October – survey


FILE PHOTO: A view shows the European Central Bank (ECB) building, on the day of the monthly news conference following the ECB’s monetary policy meeting in Frankfurt, Germany, September 14, 2023. REUTERS/Wolfgang Rattay/File photo

BERLIN (Reuters) – Investor morale in the euro zone fell less than expected at the start of October, with Germany’s economic weakness continuing to drag on the region but expectations rising slightly, a survey showed on Monday.

Sentix’s index for the euro zone declined to -21.9 points in October from -21.5 in September, better than the -22.8 estimated in a Reuters poll of analysts.

“In the euro zone, and especially in Germany, the economic situation remains weak and the recessionary tendencies persist,” said Sentix Managing Director Manfred Huebner.

“At least there is a slight ray of hope in the form of rising expectations. However, it would be premature to declare a turnaround”.

The subindex for future expectations in the euro zone rose to -16.8 points, from -21.0 in the previous month, recording its highest level since April.

“At best, it means a decrease in the negative momentum,” said Huebner. “A negative expected value means that investors’ assessment of the economy in six months is weaker than their assessment of the current situation.”

The current situation index declined to -27.0 points, its lowest level since November 2022, from -22.0.

The poll of 1,222 investors was conducted between Oct. 5-7.

Source

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