Business cycle: ZEW index falls for the first time in five months
The economic expectations of German financial experts unexpectedly fell by 6.6 points to 28.1 points in October. High energy prices and weak consumption are slowing down the hoped-for upswing.
The ZEW barometer of economic expectations for Germany fell 6.6 points to 28.1 in October, the first decline after five consecutive increases. The Mannheim Centre for European Economic Research surveyed 178 investors and analysts, with Reuters-poll economists predicting a drop to 30.0 points. ZEW President Achim Wambach noted that while the economy is emerging from stagnation, the recovery is not self-sustaining due to weak private consumption and investment.
The current situation assessment improved by 11.2 points but remained negative at -35.9. Germany's economy grew for three consecutive quarters, driven by exports, and the government raised its growth forecast for the year to 1.3%.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
