Germany's economic confidence weakened to the lowest since the global financial crisis in 2008, signaling the risk of a recession in the second half of the year, results of a closely watched survey revealed Tuesday.
The economic confidence index dropped to -55.3 in August from -53.8 in July, survey results from the ZEW - Leibniz Centre for European Economic Research showed. This was the lowest score since October 2008, when the reading was -63.0. Economists had forecast the index to remain unchanged at -53.8.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.