Investor morale in the euro zone rose this month to its highest level since June on hopes that mild winter weather and sufficient gas in storage may lessen the chances of a recession, a survey showed today.
Sentix's index for the euro zone rose to -21 points for December from -30.9 in November, surpassing expectations of analysts for a reading of -27.6.
"The surprisingly high gas levels and the continued stable labour markets are not consistent with a recession," Sentix Managing Director Manfred Huebner said in a statement.
An expectations index rose to -22.0 from -32.3 in November, hitting its highest level since March this year.
An index on the current situation in the euro zone also rose, to -20.0 from -29.5.
"In our opinion, however, this correction in assessments should not be misinterpreted as a general trend reversal," Huebner said. "The dangers of recession have by no means been averted."
The poll of 1,268 investors was conducted between December 1 and December 3, Sentix said.