Survey: EU Sentiment Turns Positive Again
Investor sentiment in the eurozone soared during August according to a report by Sentix, Reuters reports.
For the first time since mid-2011, the index ended in the positive for eurozone countries, jumping by more than 11 points to finish at +6.5. This outpaced the predictions of most economists, who forecast a modest jump from the -4.9 value for July to around -2 for the subsequent month. Expectations of future economic performance in the months to come also jumped, continuing gains that were made in June and August.
Especially surprising is the change in the core European countries versus changes seen in other countries across the globe. According to the Sentix report, in both the United States and Japan, investor sentiment barely changed at all, while emerging markets posted small gains.
Even in Eastern Europe, which had a modest gain, the index showed more improvement than across the globe. In Latin America, the index dropped from 2.2 to -1.5, representing the third straight month of alternation across the zero mark, a contrast to numbers in the teens from just a few months ago.