German economic confidence deteriorated for the fifth consecutive month to hit the lowest since March 2020 amid supply bottleneck and higher input prices, survey results from the ZEW - Leibniz Centre for European Economic Research showed on Tuesday.
The ZEW Indicator of Economic Sentiment dropped to 22.3 in October from 26.5 in September. The reading was below the economists' forecast of 24.0 and was the lowest since March 2020, when the score was -49.5.
The indicator for the current economic situation declined 10.3 points to 21.6 in October. This was the first time that the indicator has recorded a decline after its continuous increase between February and September 2021.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com