Eurozone investor confidence weakens again on German woes - Sentix

9th Sep 2024 12:16

(Sharecast News) - Eurozone investor sentiment has weakened again this month, as worries grow over the state of the German economy and political situation, according to a survey published on Monday.

The investor confidence index for the single currency bloc fell to -15.4 in September from -13.9 in August, according to behavioural research institute Sentix. It was the third consecutive fall and reached the lowest since January 2024.

"The eurozone is struggling with dangerous recessionary tendencies 'thanks to Germany'," said Sentix managing director Manfred Hubner.

The current situation index posted came in at -22.5 in September - its lowest since December 2023 - and down from -19.0 in August. However, the expectations index rose to -8.0 from -8.8 in the prior month.

In Germany, investor confidence weakened further to the weakest since October 2022. The investor sentiment index hit -34.7 in September, down from -31.1 in the previous month.

"The situation values in all regions are falling in September, indicating a critical situation in the global economy. How ever, there is hope that this does not apply to the expectation values, which have improved slightly in return. Investors are therefore not expecting any global contagion from the German economic problems," Hubner said.

Reporting by Frank Prenesti for Sharecast.com