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Eurozone Investor Confidence Lowest Since October 2014

(RTTNews) - Euro area investor confidence deteriorated sharply in August to its lowest level in nearly five years, amid a steep drop in the current situation assessment and expectations, survey data from the behavioral research institute Sentix showed on Monday.

The investor confidence index of the survey tumbled to -13.7 from -5.8 in July, marking its lowest level since October 2014. Economists had forecast a score of -7.

The current situation index dropped to -7.3 from 1.8 in the previous month. The latest reading was the lowest since January 2015.

The expectations measure slid to -20 from -13, reaching its lowest level since August 2012.

"The measures announced by the central banks have not led to a change in economic expectations," Sentix Managing Director Patrick Hussy said.

The latest survey was carried out between August 1 and 3 among 930 investors, including 249 institutions.

The sentiment index for Germany dropped to its lowest level since October 2009, suggesting that a recession in the biggest euro area economy is inevitable. The sentiment index plunged to -13.7 from -4.8 in July.

The other regions of the world are also struggling with large discounts, Sentix said. In the U.S., President Donald Trump's threat of imposing tariffs on more Chinese imports has fueled the trade war further, the institute added.

Given that the Sentix indicator is the earliest early indicator means more strong weakening in the economic signals is to be expected in August.

The global aggregate of the Sentix survey fell to -2.3 in August from 3.9 in July, marking the lowest level since February 2016.
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