Germany’s ZEW index fell to -55.3 in August, below expectations.
The ZEW index, which gauges German investors’ sentiment on the outlook for Europe’s largest economy, fell to -55.3 in August, below expectations.
Economists surveyed by Reuters had forecast the reading to remain at -53.8.
In a statement released by the institute, market experts said that the already weak growth of the German economy would decline further.
The ZEW trend index was announced at -53.8 in July.
In the ZEW Institute’s statement, it was stated that the still high inflation and the expectations of an increase in heating and energy costs caused the profit expectations for the private consumption sector to decrease, but the expectations for the financial sector improved due to the increase in short-term interest rates.
