Figures from the Sentix showed that the eurozone investor sentiment rose again in May, recording its seventh consecutive monthly increase and reaching its highest level since February 2022.
The investor confidence index rose to -3.6 points from -5.9 points in April, while consensus estimates suggested an increase to -4.8 points. The poll of 1,178 investors was conducted between May 2-4.
The economic expectations index rose by 2.8 points to 7.8 points. It was the eighth monthly increase in a row and the highest value since February 2022. Meanwhile, the current situation index increased to -14.3 points (the highest value since May 2023) from -16.3 points in April.
Sentix said that the trend is moving in the right direction, albeit in small steps, but continuously. On the one hand, the data situation is encouraging, as the economy appears to have somewhat digested the various burdens of the last two years since the beginning of the Ukraine crisis. Nevertheless, the weakness of the recovery must continue to be addressed. This is because the rise in expectations is very sluggish and is only having a very slow impact on the situation values.
Meanwhile, the investor confidence index in Germany rose to - 17.5 points (the highest value since May 2023) from -20.5 points in April. The economic expectations index improved to 0.0 points (the highest value since February 2022) from -3.5 points in April, while the current situation index rose by 2.5 points to -33.5 points.