German ZEW Economic Sentiment Slumps to 56.1 in October

The German ZEW headline numbers for October showed that the Economic Sentiment Index came in at 56.1 versus 73.0 expectations and 77.4 last.

While the sub-index Current Conditions figure arrived at -59.5 in Oct versus -60.0 expected and -66.2 booked previously.

Meanwhile, the Eurozone ZEW Economic Sentiment for Oct stood at 52.3 vs.70.5 expected and 73.9 last.

“Recent sharp rise in the number of COVID-19 cases has increased uncertainty about future economic development, as has the prospect of the UK leaving the EU without a trade deal. The current situation in the run-up to the presidential election in the United States further fuels uncertainty Great euphoria witnessed in August and September seems to have evaporated.” ZEW President Professor Achim Wambach said.