German ZEW Economic Sentiment Index slumps to 3.6 in September vs. 17.1 expected
- Germany’s ZEW Economic Sentiment Index falls further to 3.6 in September.
- EUR/USD holds gains below 1.1150 after German and Eurozone ZEW surveys.
The headline German ZEW Economic Sentiment Index dropped further to 3.6 in September from 19.2 reported in August, missing the market expectations of 17.1 by a wide margin.
The Current Situation Index, however, deteriorated further to -84.5 in the ninth month of the year, compared to August’s -77.3.
The Eurozone ZEW Economic Sentiment Index arrived at 9.3 in September versus the August figure of 17.9. The data fell short of the market forecast of 17.6.
Key points
Hope for a swift improvement in the economic situation is visibly fading.
Once again observe a noticeable decline in economic expectations for Germany.
Number of optimists and pessimists is now evenly balanced.
Most respondents appear to have already factored the ECB's interest rate decision into their expectations.
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