June 8, 2020 / 8:51 AM / a month ago

Euro zone investor morale improves but road to normality is long: Sentix

BERLIN (Reuters) - Investor morale in the euro zone improved in June and an assessment of expectations rose to its highest level since November 2017 as the bloc “is waking up from its deep sleep”, a survey showed on Monday.

Sentix’s index for the euro zone rose to -24.8 from -41.8 in May. That compared with the Reuters consensus forecast for a reading of -22.5.

A current situation index rose to -61.5 from -73.0 in May. The expectations index rose to 21.8 from -3.0 in May, registering its third increase in a row and hitting its highest level since November 2017.

“The economy is waking up from its deep sleep. But the road to normality is long,” said Sentix managing director Manfred Huebner. “For the euro zone, investors expect that within a year, just over 50% of the slump can be made up.”

“This means that in a year’s time we would still be noticeably below the pre-crisis level. And this despite all the stimulus measures, the fiscal packages and monetary easing,” he added. “An upswing has begun, but a real trend reversal is not yet assured.”

Sentix surveyed 1,173 investors between June 4 and June 6.

Writing by Paul Carrel; Editing by Michelle Martin

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