At -44.1 the ZEW Index (August; economic expectations) was dramatically worse than expected (forecast was -27.8; previous month was -24.5). This is the worst figure since May 2010!
The assessment of the current situation is also weaker, at -13.1 (forecast was -7.0, previous month -1.1). This is the worst figure since December 2011.
The ZEW commented: “The figures point to a significant deterioration in the outlook for the German economy; the risks from the trade war are increasing, as are the risks of a currency devaluation race. The increasingly probable prospect of a hard Brexit is also a burden.
The figures for the Eurozone are also falling massively: