ZEW: German confidence plunge slows down
The monthly ZEW Indicator of Economic Sentiment for Germany declined by 1.7 points compared to the previous month, at 6.9 points it reached a 21 months low. However, the ZEW highlights that the confidence plunge has slowed down.
The index, which is based on surveys among 234 analysts and institutional investors, has decreased for the ninth consecutive time, however, it declined less than anticipated. Consequently, the ZEW suggests that the drop in economic confidence may have reached a turning point.
However, the assessment of the current economic situation in Germany has decreased substantially. The respective indicator has lost 18.9 points and now stands at 25.4 points.
Meanwhile, The ZEW Indicator of Economic Sentiment for the Eurozone has declined in September. The indicator has lost 9.5 points compared to the previous month, now standing at 14.2 points.