Despite this decline in sentiment, the assessment of the economic situation in Germany showed a slight improvement. The corresponding indicator rose by 4.9 points, bringing it to a new value of minus 68.9 points.
Financial market experts' sentiment regarding the economic development of the eurozone also experienced a downturn in July. The sentiment indicator for the eurozone fell by 7.6 points compared to June, landing at 43.7 points. However, the situation indicator for the eurozone showed minimal change, increasing by 2.5 points to reach a new reading of minus 36.1 points, as per ZEW.
“The economic outlook is worsening. For the first time in a year, economic expectations for Germany are falling. The fact that German exports decreased more than expected in May, the political uncertainty in France and the lack of clarity regarding the future monetary policy by the ECB have contributed to this development,” said ZEW president professor Achim Wambach.
ALCHEMPro News Desk (DP)
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