- The ZEW index fell significantly more than expected
German financial experts' economic outlook significantly deteriorated in August, more than expected. The ZEW economic sentiment index fell by 22.6 points to 19.2 points, according to the Centre for European Economic Research (ZEW) in Mannheim. Economists believe that hopes for a recovery are waning.
"Germany's economic outlook is collapsing," commented ZEW President Achim Wambach on the data. "This suggests that economic expectations continue to be influenced by high uncertainty, driven by unclear monetary policy, disappointing US economic figures, and growing concerns about the escalation of the Middle East conflict."
This was the second consecutive decline in economic expectations. The assessment of the current economic situation also deteriorated in August. A number of leading indicators for the German economy had weakened in recent months. This was compounded by turmoil on financial markets last week. Concerns about the US economy are increasing.
Germany is currently experiencing a significant deterioration in economic expectations, as indicated by ZEW President Achim Wambach's comment. Furthermore, high uncertainty is influencing economic expectations in Germany due to factors such as unclear monetary policy, disappointing US economic figures, and growing concerns about the Middle East conflict.
