Eurozone Sentix Investor Confidence dropped to -13.7 in August, down from -5.8 and missed expectation of -7.0. That’s also the lowest level since October 2015. Current Situation Index dropped from 1.8 to -7.3, lowest sine January 2015. Expectations Index de August 2012.
Sentix warned that “the spectre of recession is going around.” It also said number of economists merely dismissed the deterioration as a “mood correction”. The current “manufacturing deterioration” is referred to as a “recession in the manufacturing sector” only, with “service sectors excluded. And it’s a “big mistake” from Sentix’s view.
For Germany, Overall Index dropped from -4.8 to -13.7, lowest since August 2009. Current Situation Index dropped from 7.0 to -5.5, lowest since March 2010. Expectations Index dropped from -16.0 to -21.5, lowest since July 2012.
Sentix said, “the former world champion exporter is feeling the effects of the backward roll of globalisation.” It also complained that the “entire political spectrum in Germany is discusses climate issues but “completely overlooks the fact that the economic climate is fading”.
