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German economy balances between hope and decline
ZEW indicator for German economy stabilises after August's decline
The ZEW index has stabilised.
Foto: Tobias Schwarz/Ritzau Scanpix
A new survey from the German research and analysis institute ZEW shows that financial market experts are slightly more optimistic about the future than a month ago. The expectation indicator rises in September to plus 37.3 points, after a significant drop in August. Thus, the economic outlook is considered to be slightly improved.
When it comes to the current economy, the picture is the opposite. The assessment falls to minus 76.4 points - one of the lowest levels in years - and 7.8 points lower than in August. According to ZEW's president Achim Wambach, it is especially export-heavy sectors such as automotive, chemicals, and metal that see a slight upturn, but they are still marked by decline.
In the eurozone, expectations have also improved slightly, while the assessment of the current situation only rises slightly. Uncertainty about US trade policy and German reform plans continues to pull in the opposite direction.
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