Expectations index also hits lowest level since December 2008
The investor sentiment index for the eurozone continued to decline in May, plunging to its lowest level in 23 months, according to a report by research group Sentix released on Monday.
The index, which measures the six-month economic outlook for the eurozone based on a survey of some 2,800 investors and analysts, fell to minus 22.6 in May, the lowest point since June 2020, from minus 18.0 in April.
The market expectation for the index was minus 20.8 for May.
A reading above zero indicates optimism, while below zero indicates pessimism.
“The economic downturn is being felt all over the world. Also in the US, where the overall index fell for the sixth time in a row, reaching minus 2.9 points, the lowest level since September 2020,” read the Sentix report.
It said COVID-19 lockdowns in China “are weighing heavily on the Asian region,”leading to a drop of 10.1 points.
The expectations index plunged to minus 34.0 in May, the lowest since December 2008, from minus 29.8 in April.