BERLIN (Reuters) – Investor sentiment in the euro zone fell for the third consecutive month in October to its lowest level since May 2020, monthly survey results from the Sentix institute showed on Monday.
Its confidence index fell to -38.3 points, after -31.8 points in September, below the expectations of analysts polled by Reuters who expected -34.7 points.
The sub-index measuring expectations fell to -41.0 points from -37.0 in September, the lowest since the financial crisis linked to the collapse of Lehman Brothers in December 2008.
That concerning the judgment of investors on the current situation in the euro zone also weakened, falling from -26.5 in September to -35.5 points in October, the lowest since August 2020.
“The continuing uncertainties about the gas and energy situation in winter have not diminished due to the attack on the Nord Stream gas pipelines,” said Manfred Huebner, the director general of the Sentix institute.
“In addition to economic concerns, there is now also a growing likelihood of an escalation of the military conflict in Ukraine. Globally, there is little cause for hope.”
He pointed out that central banks could not react in the same way as during the economic collapse caused by the coronavirus pandemic in 2020, given the runaway inflation.
The Sentix Institute surveyed 1,331 investors between October 6 and 8.
(Report Sarah Marsh, French version Lina Golovnya, edited by Kate Entringer)
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