Eurozone economic sentiment unexpectedly deteriorates
By Michele Maatouk
Date: Monday 06 Mar 2023
(Sharecast News) - Investor sentiment in the eurozone unexpectedly deteriorated in March, according to data released on Monday.
The Sentix investor sentiment index for the bloc fell to -11.1 from -8.0 in February, coming in below consensus expectations of -6.3.
The current situation index rose to -9.3 in March from -10.0 the month before, while the expectations gauge declined to -13.0 from -6.0.
Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics, said: "The upturn in headline EZ investor sentiment stalled at the end of the first quarter, which we suspect is the first sign of a retreat in risk sentiment in response to the significant re-pricing in the bond market over the last month.
"This makes sense given that the sample was collected between March 2 and 4, hot on the heels of the latest above-consensus EZ core inflation data. Markets now see an ECB terminal rate at 4%, up significantly from 3.25-to-3.5% earlier this year, mainly in response to the new record high in core inflation."
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