Euro-area investor confidence rose in June on increased optimism that the economy will return to growth this year and turbulence in the sovereign debt crisis has been overcome for now, the Sentix research institute said.
An index measuring sentiment in the euro area rose to minus 11.6 from minus 15.6 in May, the Limburg, Germany-based institute said today in an e-mailed statement.
Economists had predicted an increase to minus 11.3, according to the median of 16 estimates in a Bloomberg News survey.
A gauge of economic expectations jumped to 7.3 from 2.8, while a measure of current conditions rose to minus 28.8 from minus 32.3.
European Central Bank President Mario Draghi on June 6 said the 17-nation bloc’s economy, which is struggling to emerge from the longest-ever recession, will return to growth by the end of this year.
The index’s improvement last month was thanks to “Draghi, who gave an important impulse with the latest ECB rate cut,” said Sebastian Wanke, an economist at Sentix.
The Frankfurt-based ECB last week left its benchmark interest rate unchanged after cutting it to a record low of 0.5 percent in May.Confidence in Germany rose to 16.2 in June from 15.2.
bloomberg.com
An index measuring sentiment in the euro area rose to minus 11.6 from minus 15.6 in May, the Limburg, Germany-based institute said today in an e-mailed statement.
Economists had predicted an increase to minus 11.3, according to the median of 16 estimates in a Bloomberg News survey.
A gauge of economic expectations jumped to 7.3 from 2.8, while a measure of current conditions rose to minus 28.8 from minus 32.3.
European Central Bank President Mario Draghi on June 6 said the 17-nation bloc’s economy, which is struggling to emerge from the longest-ever recession, will return to growth by the end of this year.
The index’s improvement last month was thanks to “Draghi, who gave an important impulse with the latest ECB rate cut,” said Sebastian Wanke, an economist at Sentix.
The Frankfurt-based ECB last week left its benchmark interest rate unchanged after cutting it to a record low of 0.5 percent in May.Confidence in Germany rose to 16.2 in June from 15.2.
bloomberg.com
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