“The figures for industrial production, retail sales and foreign trade in Germany all point towards a weak development of the German economy in the third quarter. This is reflected by the fact that the assessment of the current situation has experienced a decline. The expectations of the survey participants for the coming six months do not show any improvement. This means that, at the moment, they do not expect to see a speedy recovery of the currently weak development of the economy,” comments ZEW President Professor Achim Wambach.
The financial market experts’ sentiment concerning the economic development of the Eurozone fell by 2.6 points, leaving the corresponding indicator at a level of minus 22.0 points. The indicator for the current economic situation in the Eurozone dropped by 13.8 points to a level of merely 18.2 points. As a result, the outlook for the Eurozone has deteriorated even more than it has for Germany.