The ZEW Indicator of Economic Sentiment for Germany dropped to a level of minus 24.7 points in October 2018. The indicator has thus reached the same low-point as in July of this year, being at its lowest reading since August 2012. Also, with 14.1 points, the extent of the month-to-month decline is remarkably strong. Only once in the recent past did the indicator fall more strongly, namely after the Brexit vote in Great Britain in July 2016. The indicator’s current value is far below the long-term average of 22.8 points. The assessment of the current economic situation in Germany decreased by 5.9 points, leaving the corresponding indicator at 70.1 points.