German ZEW Economic Sentiment dropped to -22.8 in October, down from -22.5 and beat expectation of -27.0. Current Situation Index, however, dropped to -25.3, down from -19.9, below expectation of -25.5. Eurozone ZEW Economic Sentiment dropped to -23.5, down from -22.4, better than expectation of -26.7. Eurozone Current Situation also dropped sharply by -10.8 to -26.4.
“The slight decrease in both the ZEW Indicator of Economic Sentiment and the situation indicator shows that financial market experts continue to expect a further deterioration of the German economy. The recent settlement in the trade dispute between the USA and China does not seem to diminish economic scepticism at this stage,” comments ZEW President Professor Achim Wambach.