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Financial News: Eurozone Investor Confidence Rises For Fifth Month

Eurozone Investor Confidence Rises For Fifth Month

03/04/2024 - 08:30:00 (RTTNews)

(RTTNews) - Eurozone investor confidence improved for the fifth straight month to a one-year high in March but remained negative indicating that a spring revival would probably be an exaggeration, survey data published by the behavioral research institute Sentix showed Monday.

The investor confidence index rose to -10.5 in March from -12.9 in February. The score was the highest since April 2023. The reading was seen at -10.8. The current situation indicator hit a nine-month high of -18.5 in March, up from -20.0 in the previous month.

The expectations indicator improved more markedly to -2.3 from -5.5 a month ago. The score strengthened for the sixth time and was the highest level since February 2022.

"Although the data points in the right direction, there can be no talk of a classic spring revival," said Sentix.

Investors view that the European Central Bank is currently acting too restrictively. They expect a more expansive approach despite the moderate economic recovery.

Germany, an economic heavyweight, remains the ghost driver and is hampering the recovery, Sentix said.

The think tank observed that the unsuccessful economic policy is preventing a thorough economic recovery in the heartland of Europe.

The recession remains in place and the data is deteriorating even at this weak level, Sentix said.

Germany's investor confidence index slid to -27.9 in March from -27.1 in February.

The current situation index posted -40.5 versus -39.3 a month ago. Similarly, the expectations indicator dropped to -14.3 from -14.0 in the previous month.

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