Eurozone economic sentiment hits 28-month low in September

Eurozone economic sentiment deteriorated more than expected in September amid worries about a recession.

The European Commission’s Sentix economic sentiment indicator fell to -31.8 from -25.2 in August, coming in below expectations for a reading of -27.5.

Meanwhile, the expectations index declined to -37.0 in September from -33.8 the month before. This marked its lowest level since December 2008.

The current situation index printed at -26.5 versus -16.3 in August, which was the worst level since February 2021.

Sentix managing director Manfred Huebner said: "Never before in more than 20 years of history, with the exception of the financial crisis in 2008, have investors' assessments of the euro zone economy been so weak - and at the same time expectations have been so low."