Eurozone Investor Confidence Hits 26-Month Low

eurozoneflag aug23 04jul22 lt

Eurozone investor confidence weakened notably to a 26-month low in July, raising fears of a recession, results of a closely-watched survey showed Monday.

The investor confidence index slid more-than-expected to -26.4 in July from -15.8 in June, the survey by the behavioral research institute Sentix revealed.

After improving sharply in June, the score was expected to fall moderately to -19.9. The latest reading was the lowest since May 2020.

"June did not really represent a stabilization," Sentix said. "We were only in the eye of the storm."

The current situation index came in at a 16-month low of -16.5 in July versus -7.3 in June. At the same time, the expectations index declined considerably to -35.8, the weakest since 2008, from -24.0 in the previous month.

The agency said the current decline in situation scores justify the expectation that a recession is inevitable. The task now is to determine the depth of such a recession.

The former locomotive of the Eurozone economy is also sliding into an economic crisis, Sentix said. Germany's investor confidence index declined notably to -24.2 in July from -12.8 in June.

The current situation index fell to -13.0 in July from -2.0 in June. At the same time, the expectations index hit an all time low of -34.8.

The survey was conducted among 1,240 investors between June 30 and July 2.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ride-hailing company Lyft announced its foray into the media and advertisement business with the launch of Lyft Media as part of its vision to build the world's largest transportation media network. Lyft Media has built a suite of new products to allow advertisers to engage with Lyft's growing audience throughout their transportation journeys. Sysco Corp. (SYY) Tuesday reported a more than a three-times surge in fourth-quarter earnings, supported by 17.5 percent growth in sales. The company projects fiscal 2023 adjusted earnings to grow. Earnings for the quarter spiked to $509.99 million from $151.09 million last year. On a per share basis,... Longmont Colorado -based Royal Crest Dairy is recalling 2% Chocolate Milk citing the potential to be contaminated with undeclared egg, a known allergen, the U.S. Food and Drug Administration said. The recall involves Farmer's 2% Reduced Fat Chocolate Milk Pints with the code date of AUG-22.
Follow RTT