BERLIN (Reuters) – Investor morale in the euro zone rose for a fifth consecutive month in September to reach its highest level since February, a survey showed on Monday, signalling hope that a recovery from the coronavirus crisis remains on track.
Sentix’s index for the euro zone improved to -8.0 from -13.4 in August, compared with a Reuters forecast for a reading of -10.5.
The current situation index rose to -33.0 from -41.3 in August, hitting its highest level since March, when Germany went into lockdown to slow the spread of COVID-19.
“The recession has not yet been overcome,” said Sentix managing director Manfred Huebner.
The expectations index for the bloc rose to 20.8 from 19.3 the previous month.
Sentiment in Germany edged up for a fifth straight month, with investors the most upbeat about the current state of Europe’s biggest economy since March.
A sub-index measuring their expectations remained almost unchanged, adding to signs of a slow return to pre-crisis levels of economic activity.
“The way out of the recession is long and also for Germany investors doubt that the corona collapse can be completely compensated within one year,” said Huebner.
Sentix surveyed 1,071 investors from Sept. 3 to 5.
(Reporting by Joseph Nasr; Editing by Michelle Adair)
