Germany's economic sentiment indicator up slightly in Sept 2023

The corresponding indicator fell 8.1 points to a new value of -79.4 points. This is the lowest value in three years, ZEW said in a press release.

The financial market experts’ sentiment concerning the economic development of the eurozone experienced a decline in September and currently stands at -8.9 points, 3.4 points below the previous month’s value. The situation indicator for the eurozone also decreased slightly, falling 0.6 points to a new reading of -42.6 points.

“The assessment of the current economic situation in Germany by the financial market experts is even more pessimistic than in August 2023. This development puts into perspective the slight improvement in expectations regarding Germany’s economic situation over the next six months. The brighter economic prospects for Germany align with a notably more optimistic view of international stock market developments. This is, at least in part, attributed to the increasing proportion of respondents who anticipate stable interest rates in the eurozone and the US. Additionally, the experts expect a further easing of China’s interest rate policy,” said ZEW president professor Achim Wambach.

ALCHEMPro News Desk (NB)