Investor confidence in the eurozone just smashed expectations.
The Sentix confidence index, which polls investors on the state of the currency union, spiked to 18.6 for March, well above the 15 score that was expected, and up from 12.4 in February.
It’s not only solidly in positive territory, but up to its highest level since at 2007.
That’s on the back of an increasingly positive outlook for Europe. The bloc’s economy grew by just 0.3% in the final quarter of 2014, but that was more than analysts expected.
Since then, we’ve seen Spanish and German retail sales figures grow at the fastest pace in a decade, just as the European Central Bank’s QE programme gets underway. Private lending is back in growth territory (or at least is no longer shrinking), and the ECB also significantly hiked its growth forecast for this year and next.
And just this morning, Credit Suisse illustrated that investors are surging into Europe and away from north America, as the bloc’s economy recovery becomes increasingly clear.
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