The skyline with its financial district is photographed during sunset as the spread of the coronavirus disease (COVID-19) continues in Frankfurt, Germany, on Nov. 1, 2020. (Kai Pfaffenbach/Reuters)
BERLIN—Investor morale in the eurozone was essentially unchanged in August from the previous month, with a slight rise too little to stave off fears of recession in the 19-country currency bloc, a survey showed on Monday.
Sentix’s index for the eurozone inched up to -25.2 points from -26.4 in July. A Reuters poll had pointed to an August reading of -24.7.
“The economic situation in the euro zone remains difficult,” Sentix Managing Director Manfred Huebner said in a statement, adding the slight rise did not signal the all-clear.
“A recession in the euro zone is still very likely,” he said, citing weak consumer confidence, inflation, and energy prices.
A Sentix index on the current situation in the eurozone was up very slightly at -16.3 in August after falling to -16.5 in the previous month, which was its lowest since March 2021. An expectations index rose to -33.8, still close to its July level that was the lowest since December 2008.
The situation in Germany, Europe’s biggest economy, looked even worse with the overall index dropping to -24.4 points, the lowest level since May 2020.
The poll of 1,262 investors was conducted between Aug. 4 and 6, said Sentix.