BERLIN (Reuters) -Investor morale in the euro zone improved more than expected in October, a survey showed on Monday, as global economic sentiment brightened despite a U.S. government shutdown that began on October 1.
The Sentix index for the euro zone rose to -5.4 in October from -9.2 in September, beating the -8.5 forecast by analysts polled by Reuters.
The survey of 1,138 investors from October 2-4 showed the assessment of the current situation improving to -16.0 in October from -18.8 in September.
Economic expectations for the next six months rose more strongly, to 5.8 in October from 0.8 in September.
The survey found that concerns about the U.S. economy combined with recessionary trends in the euro zone had caused investors to overreact somewhat pessimistically last month.
So far the U.S. now being in a shutdown has caused investors little concern, with the data reflecting hopes for a quick end, found the survey.
In Germany, Europe’s largest economy, the overall index improved by 4.2 points to -17.9, with expectations rising by 6.3 points to 2.8, though the current situation was at -36.5 points, clearly in recession territory.
“Without sustainable improvements in the framework conditions and with only armaments, it will be difficult to kick-start an upturn,” said Sentix.
(Reporting by Ludwig BurgerEditing by Friederike Heine and Miranda Murray)
Comments