Investor morale in the euro zone rose in May to its highest level since March 2018 on all-time high expectations and an upbeat evaluation of the current situation, a survey showed today.

This suggests that the euro zone is overcoming the Covid-19 crisis.

Sentix's index for the euro zone climbed to 21 from 13.1 in April. A Reuters poll had pointed to a reading of 14.

A current conditions index moved to positive territory, hitting its highest level since May 2019. An expectations index climbed to a record 36.8 from 34.8 a month earlier.

"The economic situation in the euro zone continues to improve," Sentix said, adding that "the recession caused by the coronavirus crisis has been overcome."

Sentix surveyed 1,204 investors from May 6 to May 8.