German ZEW Indicator of Economic Sentiment fell 22.6 points in August due to ambiguous monetary policy, US data, and Middle East conflicts.
German economic sentiment fell sharply in August due to ambiguous monetary policy, disappointing US data, and Middle East conflicts, causing the ZEW Indicator of Economic Sentiment to drop 22.6 points to 19.2. This marks the second consecutive decline and a significant decline in investor confidence amid global market turmoil and an uncertain economic outlook. The economic expectations for export-intensive German sectors have also deteriorated due to adverse economic climates in the euro area, US, and China.
August 13, 2024
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