Euro-Area Resilience Drives Investor Optimism to Pre-Crisis High
(Bloomberg) -- Investor confidence in the euro-area economy surged to the highest level since before the global financial crisis, suggesting the region's recovery will continue to strengthen.
An index measuring sentiment in the 19-nation region rose to 20.7 in March from 17.4 in February, Sentix said in a statement on Monday. That's the strongest reading since August 2007 and beats the median estimate of 18.5 in a Bloomberg survey. Gauges for current conditions and expectations both improved.
The report is the latest in a raft of numbers pointing to accelerating growth. Purchasing managers' surveys suggest output is rising at the fastest pace in almost six years, economic confidence has improved and joblessness is slowly declining. The European Central Bank will publish updated projections this week after the Governing Council gathers for one of its regular policy-setting meetings.
The Stoxx Europe 600 Index is up 3.2 percent this year, while Germany's DAX has gained 4 percent and is close to the record-high reached in April 2015.
“The economy is in full swing,” Frankfurt-based Sentix said. “The favorable review of the current situation has been an invaluable foundation of the current economic recovery.”
The company surveyed 1,081 investors from March 2-4.
--With assistance from Kristian Siedenburg
To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net.
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Paul Gordon
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