Europe believed in ending the crisis
Europe believed in ending the crisis. The Eurozone Economic Expectations Index rose from minus three points in May to 21.8 points in June. This is the maximum growth since November 2017, it indicates that investors believed in Europe, Reuters writes with reference to the data of the Sentix research group.
Investors allowed the crisis to end soon – the confidence index rose to minus 24.8 points in June from minus 41.8 in May. The index of current economic conditions rose to minus 61.5 points from minus 73 points per month.
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Manfred Hübner, managing director of Sentix, noted that the economy is “awakening from deep sleep,” but the road to normal will be long. Investors believe that more than 50 percent of the decline will be able to play out within a year. However, it is noted that indicators in a year will be below the pre-crisis level, despite all the stimulating measures.
In early June, the European Central Bank expanded its anti-crisis program to repurchase securities from EU countries by 600 billion euros to 1.35 trillion euros. The program will last until June 2021. Eurozone GDP fell 3.8 percent in the first quarter of 2020.
