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Financial News: Eurozone Sentix Investor Confidence Weakest Since 2013

Eurozone Sentix Investor Confidence Weakest Since 2013

10/07/2019 - 05:30:00 (RTTNews)

(RTTNews) - Eurozone investor confidence weakened to its lowest since early 2013 in October on fears of recession despite stimulus measures announced by the European Central Bank, survey results from the behavioral research institute Sentix showed on Monday.

The investor confidence index fell to -16.8 in October from -11.1 in September. This was the lowest reading since April 2013 and also below economists' forecast of -13.0.

Among components, assessment of current situation weakened to a five-year low. The corresponding index came in at -15.5 versus -9.5 a month ago.

Likewise, the expectations indicator declined to -18.0 in October from -12.8 in the previous month.

German investor confidence also deteriorated sharply in October to the weakest since July 2009. The sentiment indicator eased to -19.4 from -12.8 in the previous month.

The current situation indicator fell to -18.0 from -10.5 and the expectations index dropped to -20.8 from -15.0 in September.

The US Federal Reserve and the European Central Bank has unveiled easing in September.

The ECB's stimulus package included a 10 basis points cut to the deposit rate to -0.50 percent. The bank is also set to restart its asset purchase programme, or APP, with monthly purchases of GBP 20 billion from November 1.

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