10/18/2022, 11:06 AM (Source: TeleTrader)
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ZEW: German economic sentiment slightly up in October

The economic sentiment indicator in Germany came in at negative 59.2 in October, rising slightly from negative 61.9 registered in September and performing better than predicted, the Centre for European Economic Research (ZEW) stated in its report released on Tuesday. On the other hand, the current situation index plunged from the previous month's negative 60.5 to negative 72.2.

"[T]he current economic situation is once again assessed as significantly worse than in the previous month. The probability that real gross domestic product will decline in the course of the next six months has also increased considerably," ZEW President Professor Achim Wambach commented on the results.

The economic sentiment indicator for the Eurozone rose by 1.0 points compared to September to negative 59.7 points. Meanwhile, the situation indicator plummeted by 11.7 points month-on-month to land at negative 70.6 points.

Baha Breaking News (BBN) / JR