Germany October ZEW Economic Sentiment Index at 56.1... Significantly Below Expectations
[Asia Economy Reporter Minwoo Lee] On the 13th (local time), according to the ZEW - Center for European Economic Research, a private economic research institute in Germany, the German Economic Sentiment Index for October recorded 56.1. This is significantly lower than the market expectation of 72.0 and the previous month's 77.4.
The ZEW Economic Sentiment Index is a leading indicator reflecting economic outlook for the next six months. It appears that concerns about economic slowdown have increased as the spread of the novel coronavirus infection (COVID-19) has intensified recently.
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Previously, Germany maintained lower numbers of COVID-19 confirmed cases and deaths compared to many other European countries, but in recent days, new confirmed cases have surged sharply. Some hospitals have even warned of staff shortages.
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