German Economic Expectations Decline Sharply in October -ZEW Survey
By Maria Martinez
German economic expectations have plummeted in October after
going up in the last two months, the ZEW economic research
institute said Tuesday.
The measure of economic expectations fell to 56.1 in October
from 77.4 in September, the institute said. The outcome is well
below economists' forecast of 74.0 points in a survey by The Wall
However, the assessment of the current economic situation in
Germany has improved, rising to minus 59.5 in October from minus
66.2 in September, the ZEW institute said. This reading is better
than economists' forecast of minus 72.0 points.
Although the ZEW indicator of economic sentiment is still in
positive territory, "the great euphoria witnessed in August and
September seems to have evaporated" said Achim Wambach, president
of the ZEW institute.
Mr. Wambach said the recent sharp rise in the number of
coronavirus cases has increased uncertainty about future economic
developments, as has the prospect of the UK leaving the European
Union without a trade deal.
Write to Maria Martinez at email@example.com
(END) Dow Jones Newswires
October 13, 2020 05:28 ET (09:28 GMT)
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