The indicator of economic sentiment for the country also slipped by 6.6 points to a value of minus 61.9 points as per the September 2022 survey by economic research institute ZEW.

Germany’s economic outlook has worsened to a large extent after the assessment of its economic situation dropped 12.9 points month on month (MoM) to reach minus 60.5 points in September 2022. The indicator of economic sentiment for the country also slipped by 6.6 points to a value of minus 61.9 points as per the September 2022 survey by ZEW.

“The ZEW Indicator of Economic Sentiment decreased again in September. Together with the more negative assessment of the current situation, the outlook for the next six months has deteriorated further. The prospect of energy shortages in winter has made expectations even more negative for large parts of the German industry. In addition, growth in China is assessed less favourably. The latest statistical figures already show a decline in incoming orders, production, and exports,” ZEW president professor Achim Wambach said in a press release.

The financial market experts’ sentiment concerning the economic development of the eurozone fell by 5.8 points in September and currently stands at minus 60.7 points. The situation indicator fell even more sharply and now stands at minus 58.9 points, 16.9 points below the value of the previous month.

Fibre2Fashion News Desk (NB)