ZEW Index plunges into the bottomless pit

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:

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