German ZEW economic sentiment drops to -24.1 in November, beats estimates

Dhwani Mehta FXStreet

The German ZEW headline numbers for November showed that the economic sentiment index dropped to -24.1 versus -25.0 expectations and -24.7 last. While the sub-index current conditions figure slumped to 58.2 versus 65.0 expected and 70.1 booked previously, missing market expectations by a big margin.

ZEW President Professor Achim Wambach noted: “The figures for industrial production, retail sales and foreign trade in Germany all point towards a weak development of the German economy in the third quarter. This is reflected by the fact that the assessment of the current situation has experienced a decline. The expectations of the survey participants for the coming six months do not show any improvement. This means that, at the moment, they do not expect to see a speedy recovery of the currently weak development of the economy.”

About German ZEW

These numbers are derived via a survey of about 300 German institutional investors and analysts, conducted by the Zentrum für Europäische Wirtschaftsforschung (ZEW), which asks respondents to rate the relative 6-month economic outlook for Germany. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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