Morale among euro zone investors worsened for a third straight month in September, a research group reported today.
The Sentix group's latest monthly sentiment indicator, based on a survey of some 2,600 European investors between September 6th and 8th, fell to 18.1 from 26.3 in August.
The Sentix gauge of current conditions fell in September to 46.5 from 55.5 in August, while a measure of expectations for the euro area dropped to -7.0 from 0.5 in the prior month.
"The data indicate a serious clouding of the economic prospects for the euro area," Sentix wrote. "The Sentix data point to a recession in the USA."
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"Investors are concerned about the danger of negative fall-out from the US credit crisis on the global economy."