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German ZEW Economic Expectation Index Drops to 56.1 in October More Uncertainty

The German European Economic Center (ZEW) released an economic expectations index of 56.1 in October, down from 77.4 last month and well below market expectations (73.0). ..

The outlook for the German economy is becoming more uncertain due to the three uncertainties surrounding the new coronavirus, the UK’s withdrawal from the European Union (EU), and the US elections.

ZEW director Wambach said in a statement, “The recent surge in the number of people infected with the new corona has increased uncertainty over future economic development. The same is true of the prediction that the UK will leave the EU without a trade agreement. The current situation towards this is also increasing uncertainty. “

The current status index rose from minus 66.2 last month to minus 59.5. The market forecast was -60.0.

The economic expectations index has fallen since July. “It seems that the big uplifting feelings in August and September (which rose) have disappeared,” said Wambach.

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