Eurozone Investor Confidence Weakened in October

Forex News

Confidence among investors in the Eurozone declined more than expected in October, amid uncertainties about the fiscal policy stance in Italy and the automobile industry in Germany. Data from think tank Sentix showed, that the investor sentiment index fell to 11.4 in October from 12.0 in September. The expected reading was 11.8.

Meanwhile, the current situation index came in at 33.0, the lowest since April 2017, and down from 35.0 in September. Also, the expectations indicator rose to -8.3 from -8.8 in the previous month.

"The cause of the slight fall in the index probably lies in the discussion about the auto sector in Germany and uncertainties over the future fiscal policy of the Italian government," Manfred Huebner, managing director of Sentix, said.

At the same time, Germany's investor confidence index rose to 20.0 in October from 18.1 in September. The indicator improved despite rising pressure on the German large automotive sector.