Eurozone’s investor sentiment has strengthened in a widely-respected survey, beating initial estimates.
Euro Stoxx 50 down -0.034%, EUR USD up +0.22%
The November Sentix Economic Index stood at 18.3, up from October’s reading of 16.9 and far beyond consensus expectations of 15.5.
The current situation index dropped slightly to 23.5, the weakest level since June, from October’s 26.3. But investors were more optimistic about the future, and the expectations index rose to 13.3 from 8.0.
The overall index for Germany was 19.7, the fourth straight decline in a row and the lowest level since March. The country’s current situation index was also down, dropping to 24.8 from 31.0. But expectations rose from 9.5 to 14.8.
Patrick Hussy, managing director at Sentix stated that the economic downturn is gradually coming to end. Supply constraints and elevated inflation are major problems for companies.
The US index was 25.3 compared to October’s figure of 21.3, while the Asia index was 19.6, up on 15.7 a month earlier.