Euro-Zone Investor Confidence Slips to Six-Year Low as Recession Deepens

Investor confidence in the Euro-Zone dropped more than expected in March as the Sentix survey slipped to a record-low of -42.7 from -36.1 in February. A deeper look into the report showed that the sub-component for current situations plunged to -59.75 from -52.25, which is the lowest since the survey started in Feb. 2003, while the gauge for future expectations fell for the first time in four-months as market participants expect the euro-region to face its worst recession since World War II. The data continues to reinforce a dour outlook for the economy, and as growth and inflation falters, the ECB is likely to step up their efforts in order to avoid a deepening recession.