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European Economic News

Germany Economic Confidence At 10-Month Low

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

German economic confidence weakened to a 10-month low in September, survey data from the Mannheim-based Centre for European Economic Research or ZEW showed Tuesday.

The investor confidence index dropped to 12.1 points in September from 25 in August. It was the lowest since November 2014, when the score was 11.5 and below the expected score of 18.3.

"The weakening economic development in emerging markets dampens the economic outlook for Germany's export-oriented economy," ZEW President Professor Clemens Fuest, said.

"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," Fuest added.

The assessment of the current situation rose marginally to 67.5 in September from 65.7 a month ago.

The indicator of economic sentiment for the Eurozone decreased by 14.3 points to 33.3 in September. At the same time, the current situation indicator gained 0.6 points to minus 9.7 points.

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