Eurozone investor confidence has jumped to its highest level in over ten years as the euro area´s economic recovery continues to pick up steam.
The Sentix investor sentiment survey measure reached 34 at the beginning of November, up from October´s reading of 29.7 and sharply ahead of economists´ forecasts of a rise to 30.8.
Eurozone investors’ assessment of the current situation rose to 45.8 from 41.8, while expectations jumped to 22.8 from 18.3.
Sentix highlighted particular strength in Germany where investors´ appraisal of the current situation leapt to an all-time high of 71.8 points.
The data research and analysis group said its figures indicated that together with Europe “the whole world was in excellent shape”.
“All world regions considered by Sentix show further improvements. The global economy is booming. This should make the question of overheating symptoms more acute,” said Sentix.
Sentix pointed to the risk that the European Central Bank (ECB) could prove overly accommodative, thereby pushing up eurozone inflation next year.
Last month the ECB announced it was tapering its quantitative easing programme, but would continue asset purchases from the beginning of 2018 at €30bn per month versus the current €60bn.