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ZEW Economic Sentiment further declined in October

Tuesday, Oct 13 2015

The ZEW Indicator of Economic Sentiment for Germany has further declined in October 2015. Decreasing by 10.2 points compared to the previous month, the index now stands at a level of 1.9 points. Analysts were forecasting decline to 6.8 points. "The exhaust gas scandal of Volkswagen and the weak growth of emerging markets has dampened economic outlook for Germany. However, the performance of the domestic economy is still good and the Euro area economy continues to recover. This makes it rather unlikely that the German economy will slide into recession," says ZEW President Professor Clemens Fuest.

The assessment of the current situation in Germany has declined as well. Decreasing by 12.3 points, the index now stands at 55.2 points. 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 3.2 points to a reading of 30.1 points. This was in line with market forecasts. Declining 1.5 points in October 2015, the indicator for the current situation in the euro area has reached a value of minus 11.2 points.

 

Euro is currently being traded around 1.1370 level. Pair is likely to find support around 1.1330 level and resistance above 1.14 handle. There will be no major data releases in the rest of the session.

More in this category: « UK CPI fell by 0.1% Chinese CPI increased less than expected »

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