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9/15/2020, 11:07 AM (Source: TeleTrader)
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Germany economic sentiment highest in 20 years

Economic sentiment in Germany jumped by 5.9 points on a monthly basis to 77.4 points in September to beat estimates and therefore reached the highest value in 20 years, a monthly survey released by the Centre for European Economic Research (ZEW) showed on Tuesday. The survey showed an improvement in the current economic situation assessment, as the figure improved 15.1 points compared to August to stand at negative 66.2 points.

"The ZEW Indicator of Economic Sentiment has increased again, signaling that the experts continue to expect a noticeable recovery of the German economy," ZEW's President Professor Achim Wambach said, adding that the present "negative outlook for the banking sector reveals fears of a rising number of loan defaults in the coming six months."

In the Eurozone, economic sentiment rose by 9.9 points to 73.9 points, also showing a noticeable improvement, while the figure for the region's current situation assessment monthly grew 8.9 points to negative 80.9 points.

Breaking the News / AM