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ZEW Economic Sentiment decreased more than expected

Tuesday, Sep 15 2015
The ZEW Indicator of Economic Sentiment for Germany has declined in September 2015. Decreasing by 12.9 points compared to the previous month, the index now stands at a level of 12.1 points. Analysts were anticipating decline to 18.1.
 
“The weakening economic development in emerging markets dampens the economic outlook for Germany’s export-oriented economy. While economic growth in the second quarter was largely driven by external demand, it is becoming less likely that exports will stimulate growth in the near future,” says ZEW President Professor Clemens Fuest. 
 
Financial market experts’ sentiment concerning the economic development of the Eurozone has weakened. ZEW’s Indicator of Economic Sentiment for the Eurozone has decreased by 14.3 points to a reading of 33.3 points. Analysts were forecasting decrease to 42.1.
 
Gaining 0.6 points in September 2015, the indicator for the current situation in the euro area has reached a value of minus 9.7 points.
 
Euro is currently being trade around 1.1310 level. Pair is likely to find support around 1.1250 area and resistance above 1.1370 level. Later today, in the US session, Retail Sales, Empire State Manufacturing Index and Industrial Production figures are scheduled for a release.
 
More in this category: « UK CPI unchanged in August U.S. Retail Sales rose by 0.2% »

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