Economic sentiment deteriorates slightly in euro area - ZEW

Tuesday, 15. October 2019 11:03

The Centre for European Economic Research (ZEW) reported on Tuesday a decline in its indicators of economic sentiment for Germany and the whole currency union by 0.3 and 1.1 points in October.

The publication notes the indicator for the largest European economy stands at minus 22.8 points, remaining below the long-term average of 21.4 points. The assessment of the current economic situation in Germany was at its lowest point since April 2010. The gauge measuring eurozone's economic sentiment stood at negative 23.5, while the indicator for the current economic situation dropped sharply by 10.8 points to minus 26.4 points.

"The slight decrease in both the ZEW Indicator of Economic Sentiment and the situation indicator shows that financial market experts continue to expect a further deterioration of the German economy. The recent settlement in the trade dispute between the USA and China does not seem to diminish economic skepticism at this stage," the organization's president professor Achim Wambach said in the press release.

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