Eurozone investor confidence fell in May to its lowest level since June 2020, a survey showed on Monday, falling for a third straight month as the impact of the Ukraine war on the largest economy of Europe becomes increasingly clear.
The Sentix index for the euro zone fell to -22.6 in May from -18.0 in April. A Reuters poll had pointed to a reading of -20.8 in May.
“The global economy is facing a ‘perfect storm’,” Manfred Huebner, managing director of Sentix, said in a statement.
“The traces of the conflict in Ukraine are also becoming more and more visible in the economy,” he said, adding of the eurozone: “The recession is becoming visible.”
An index of current conditions fell to -10.5 in May from -5.5 in April, falling for the third straight month to its lowest level since March 2021.
The expectations index fell to -34.0 in May from -29.8 in April, also falling for the third consecutive month and reaching its lowest level since December 2008.
Source: CNN Brasil
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