Euro area investor confidence decreased more than expected in March as expectations deteriorated sharply despite receding fears of a recession, survey results from the behavioral research institute Sentix showed Monday.
The Sentix economic index dropped to -11.1 from -8.0 in February. Economists had forecast a score of -6.3.
The current situation index of the survey rose to -9.3 from -10.0, marking the strongest reading since June 2022. The score improved for the fifth month in a row.
The expectations measure of the survey dropped to -13.0 from -6.0 in the previous month. The decline came after several months of improvement.
The March reading of the current situation index still means that the economy is currently in a stagnation phase at best, Sentix said.
by Jyotsna V
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