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Financial News: Eurozone Remains Close To Recession: Sentix

Eurozone Remains Close To Recession: Sentix

09/09/2019 - 06:53:00 (RTTNews)

(RTTNews) - Euro area investors were slightly less pessimistic in September, thanks to better expectations, but the assessment of the current situation suggested that a recession is imminent, results of a monthly survey by the behavioral research institute Sentix showed on Monday.

The euro area investor confidence index climbed to -11.1 from -13.7 in August. Economists had forecast a score of -13.4.

The current situation index of the survey dropped to -9.5 from -7.3 in August. The index fell for a fourth straight month to hit its lowest level since January 2015.

The expectations measure climbed to a three-month high of -12.8 from -20.

"The economic situation in Euroland remains tense," Sentix said.

"A look at the situation values, which have slipped even deeper into the red, shows that the Euro zone is not far from a recession," the think tank added.

As long as the expectations measure remains negative, a trend reversal is not yet in sight, Sentix said.

The Sentix barometer for central bank policy is at +30 points.

"So, the expectations of Mario Draghi to deliver something big and effective are high," Sentix said.

The ECB is set to hold its latest policy session on Thursday, September 12. The central bank is expected to announce a stimulus package, including a deposit rate cut and asset purchases, for the euro area economy.

In euro area's biggest economy, Germany, there is little evidence that the economy can return to growth on its own, the think tank said.

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