FOREX TradingCharts.com

Financial News: German ZEW Economic Confidence At 5-Month Low

German ZEW Economic Confidence At 5-Month Low

10/13/2020 - 07:55:00 (RTTNews)

(RTTNews) - Germany's economic sentiment deteriorated to a five-month low in October amid heightened uncertainty surrounding trade talks with the UK and the run-up to the presidential elections in the US, survey data from the ZEW - Leibniz Centre for European Economic Research showed on Tuesday.

The ZEW Indicator of Economic Sentiment fell more-than-expected to 56.1 in October from 77.4 in September. The score was forecast to drop to 73.0. The latest reading was the lowest since last May.

Meanwhile, the current conditions index improved to -59.5 from -66.2 in the previous month. The expected reading was -60.0.

The 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, ZEW President Achim Wambach, said.

The current situation in the run-up to the presidential election in the United States further fuels uncertainty, Wambach added.

"The great euphoria witnessed in August and September seems to have evaporated," Wambach said.

The largest euro area economy had contracted by a record 9.7 percent in the second quarter. However, with the easing of lockdown restrictions, the economy is widely expected to rebound in the third quarter.

Financial market experts' sentiment concerning the economic development of the euro area also took a nosedive in October, the survey showed. The economic sentiment indicator plunged 21.6 points to 52.3 in October.

Meanwhile, the current economic situation climbed 4.3 points to minus 76.6 points in October.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


ECB's Lagarde Says Data Suggest Significant Softening In Economic Activity In Q4 (03 hr(s), 18 min(s), 21 sec(s) ago)
(RTTNews) - European Central Bank President Christine Lagarde on Thursday hinted at a move by the ...Full Story»

U.S. Pending Home Sales Unexpectedly Pull Back Off Record High In September (05 hr(s), 58 min(s), 21 sec(s) ago)
(RTTNews) - Pending home sales unexpectedly pulled back off a record high in the month of Septembe ...Full Story»

ECB Signals December Move (06 hr(s), 25 min(s), 21 sec(s) ago)
(RTTNews) - European Central Bank left its key interest rates and massive stimulus unchanged on Th ...Full Story»

U.S. GDP Rebounds More Than Expected In The Third Quarter (06 hr(s), 44 min(s), 21 sec(s) ago)
(RTTNews) - After reporting a record contraction in U.S. economic activity in the previous quarter ...Full Story»

Germany Consumer Prices Fall For Second Month (07 hr(s), 0 min(s),21 sec(s) ago)
(RTTNews) - Germany's consumer prices declined for the second straight month in October largel ...Full Story»

U.S. Weekly Jobless Claims Drop To Lowest Level Since March (07 hr(s), 02 min(s), 21 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits fell to their lowest level since befo ...Full Story»

U.S. GDP Shows Substantial Rebound In The Third Quarter (07 hr(s), 42 min(s), 21 sec(s) ago)
(RTTNews) - After reporting a record contraction in U.S. economic activity in the previous quarter ...Full Story»

U.S. Weekly Jobless Claims Drop More Than Expected (07 hr(s), 47 min(s), 21 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits fell to their lowest level since befo ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

ECB's Lagarde Says Data Suggest Significant Softening In Economic Activity In Q4

10/29/2020 - 13:09 PM (RTTNews)
(RTTNews) - European Central Bank President Christine Lagarde on Thursday hinted at a move by the ...Full Story>>

U.S. Pending Home Sales Unexpectedly Pull Back Off Record High In September

10/29/2020 - 10:29 AM (RTTNews)
(RTTNews) - Pending home sales unexpectedly pulled back off a record high in the month of Septembe ...Full Story>>

ECB Signals December Move

10/29/2020 - 10:02 AM (RTTNews)
(RTTNews) - European Central Bank left its key interest rates and massive stimulus unchanged on Th ...Full Story>>

U.S. GDP Rebounds More Than Expected In The Third Quarter

10/29/2020 - 09:43 AM (RTTNews)
(RTTNews) - After reporting a record contraction in U.S. economic activity in the previous quarter ...Full Story>>

Germany Consumer Prices Fall For Second Month

10/29/2020 - 09:27 AM (RTTNews)
(RTTNews) - Germany's consumer prices declined for the second straight month in October largel ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.