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.
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