Title: Euro zone investor morale edges up, recession still likely - Sentix
Aug 08, 2022 04:35AM ET
A survey showed on Monday that investor morale in the euro zone remained essentially unchanged in August from the previous month, with a slight rise too small to avert recession fears in the 19-nation currency bloc.
The Sentix index for the eurozone rose to 25.2 points in August from 26.4 points in July. A Reuters poll had suggested an August reading of 24.7 points.
The economic situation in the eurozone remains difficult, "Sentix chief executive Manfred Huebner said, adding that the small rise did not signal a winding down.
He said a recession in the eurozone is still very likely, citing weak consumer confidence, inflation and energy prices.
The Sentix index for the current situation in the eurozone rose very slightly to 16.5 in August, after falling to 16.5 the previous month, which was the lowest since March 2021. The expectations index rose to 33.8, remaining close to July's low of 33.8, which was the lowest since December 2008.
The situation in Germany, Europe's largest economy, looked even worse, with the overall index falling to 24.4, the lowest level since May 2020.
The poll of 1,262 investors was conducted between August 4 and 6, Sentix said.