Eurozone investor sentiment deteriorates more than expected
Investor sentiment in the eurozone deteriorated more than expected in July, according to a survey released on Monday.
The Sentix investor sentiment index fell to -22.5 from -17.0 in June, coming in below consensus expectations of -17.9 and marking the lowest level since November 2022.
The current situation index declined to -20.5 in July from -15.8 the month before, while the expectations index printed at -24.5, down from -18.3.
The headline Sentix index for Germany fell from -20.3 in June to -28.4 in July - the lowest since November last year.
Melanie Debono, senior Europe economist at Pantheon Macroeconomics, said: "Looking ahead, with EZ GDP growth likely to stay weak and monetary policy set to be tightened further, we certainly see risks tilted to the downside for EZ financial markets and sentiment in the next three months.
"Weakness in markets and sentiment, in turn, imply that we also see further downside risks for the headline economic surveys, something which the money data have been pointing to for a while now."