Eurozone Sentix Investor confidence dropped sharply to 9.3 in June, down from 19.2 and well below expectation of 18.6. And, for the fifth time in a row, overall index for GErmany dropped to its lowest level since July 2016. Expectation “collapsed” to -13.3, hitting the lowest level since August 2012.
Quote from the release:
“Now they are here, the American punitive tariffs. So far, this has done less harm than one might think to global economic expectations. It appears that investors still hope that the world’s trade dispute with the US will not get out of control. Investors, on the other hand, are far less lenient with developments within the euro zone. The new government in Rome is very sceptical. This is so strong that economic expectations in the euro zone are downright tilting.”
