Germany's ZEW Economic Sentiment Index Edges Up to 34.7 in September; Current Conditions Improve Sharply
Macro
The ZEW economic sentiment index for Germany, released on the 15th, came in at 34.7 for September, edging up slightly from 34.2 the previous month. It nonetheless fell short of the 40.0 analysts had expected in a Reuters poll. The current conditions index rose to minus 47.1, a sharp improvement from minus 61.1 the previous month. ZEW President Achim Wambach said, "The economic sentiment index is stable. Experts hold a cautious but optimistic view of the recovery," noting that fiscal measures continue to drive growth and that export momentum is also providing support. At the same time, he warned that risks are significant, citing persistently high energy prices amid the ongoing war in Iran and the further rise in uncertainty caused by hybrid attacks as burdens on the economy.
