08.06.202009:53:00UTC+00Eurozone Sentix Investor Confidence Improves In June

The euro area economic sentiment improved in June due to the relaxation of measures to combat the coronavirus pandemic, survey results from the behavioral research firm Sentix showed Monday.

The headline Sentix investor confidence index rose to -24.8 in June from -41.8 in May. The expected reading was -22.5.

"The upswing out of the valley of tears has definitely begun and should continue for the time being," Sentix said.

Assessment of current conditions advanced from May and the expectations strengthened to the highest level in more than two years.

At -61.5, the current situation index reached a three-month high of -61.5, and up from -73.0 a month ago.

Likewise, the expectations indicator advanced to 21.8 in June from -3.0 in the previous month. This was the highest score since November 2017.

According to Sentix, an upswing has begun, but a real trend reversal is not yet assured. Investors expect that within a year, just over 50 percent of the slump caused by the pandemic can be made up.

The survey showed that Germany has bottomed out. Expectations jumped nearly 30 points to the highest value since March 2015.

Germany's investor confidence index improved to -17.2 in June from -35.3 in May. Nonetheless, investors expect Germany will only be able to compensate for around 64 percent of the slump in economic output within a year.