Eurozone investor confidence plummets - Sentix
By Abigail Townsend
Date: Monday 09 May 2022
(Sharecast News) - Investor confidence has slumped in the Eurozone, a closely-watched survey showed on Monday, as the war in Ukraine pushed the region towards recession.
The Sentix Economic Index was -22.06 in May, the third consecutive decline and the lowest since June 2020. The Eurozone index was -18.0 in April.
Within that, the current situation index fell to -10.5 in May from -5.5 a month earlier, while the expectations index slid from -29.8 to -34.0, the lowest since the end of 2008.
Manfred Hubner, managing director of Sentix, said: "The recession is becoming visible."
He continued: "The traces of the Ukraine conflict are becoming increasingly visible in the economy. The sanctions against Russia are having an effect on enemies and friends alike. Last month, the first mover economic index clearly pointed the way towards recession; at the beginning of May, the downturn deepened further.
"In other words, it's coming thick and fast."
In Germany, the Eurozone's biggest economy, economic expectations slumped to an all-time low of -32.8. Germany's overall index was -20.5, down on April's -17.1 and the weakest since May 2020.
Outside of Europe, the US recorded its sixth consecutive decline in May, with its index falling into negative territory, at -2.9. The global aggregate index - hit by the rolling lockdowns in China - fell to -13.3, marking the lowest since June 2020.
A total of 1,267 investors were surveyed, 262 of which were institutional, between 5 and 7 May.
Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange
Market.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN