European investors have not been so confident since just before the financial crisis

LONDON — European investors are more confident in the state of the continent’s economy than at any time in the last 10 years, according to the survey from behavioural finance experts Sentix.

The firm’s latest Economic Index, which tracks sentiment among investors on the continent, hit 20.7 in March, up from 17.4 in February, and its highest level since August 2007, soon before the global financial crisis began to crystallise.

An uptick in economic confidence comes as the eurozone economy finally starts to boom, with last week’s PMI surveys showing big expansions in all sectors of the Single Currency area’s economy.

Here is the key extract from Sentix’s release:

“The economy is in full swing. Fears after last month’s sobering data on investors’ expectations that economy recovery is fading again have dissipated (economic expectations had been severely hit in February on a global scale). The March data shows that already half of last month’s throwback in economic expectations has been recovered. Moreover, investors’ strong conviction on the current situation remains.

“The favourable review of the current situation has been an invaluable foundation of the current economic recovery as even in February investors expressed a solid view on the actual performance of the Eurozone economy.”

And here is the chart, showing how big the uptick is:

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