Investor morale in the euro zone took a surprising dip in May, with stubborn inflation and energy concerns upending expectations of a spring recovery, a survey showed on Monday.
Sentix's index for the euro zone fell to -13.1 points for May from -8.7 in April. Analysts polled by Reuters had expected it to rise to -8.0 this month.
Among a raft of policies being brought in across the zone, Berlin's ruling coalition in March agreed that almost all newly installedshould run on 65% renewable energy from 2024, both in new and old buildings. The euro zone economy had been recovering in recent months, driven by robust demand for services, and a host of agencies from the IMF to the ECB have upgraded their forecasts for the bloc. But recent weakness, especially in manufacturing, is casting a shadow over this recovery, especially as rapid inflation is eating into households' purchasing power.
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