German Economic Sentiment Down for Fifth Straight Month

Source: ZEW

German economic sentiment slipped for the fifth straight month in October, with the assessment of the current situation declining for the first time after eight months. DAX is up 0.02%.

• The ZEW Indicator of Economic Sentiment for Germany fell 4.2 points to 22.3 points in September, marking the fifth straight month of decline.
• The assessment of the German economic situation slipped 10.3 points to 21.6 points, the first decline after the months-long increases from February to September.
• ZEW President Professor Achim Wambach said the economic outlook for the economy had dimmed noticeably, dragged by the continued bottleneck issues.
• The supply constraints are mainly on raw materials and intermediate products, with experts expecting profits to go down, especially in sectors catering exports.
• Sentiment on the Eurozone likewise fell for the fifth straight month, down by 10.1 points to 21.0 points.
• The indicator for the current economic situation in the Eurozone fell 6.6 points to 15.9 points, while the inflation indicator dropped 3.0 points to 17.1 points.