expansion in Variable delta and fear of further restrictions accompanied by high inflation And deterioration in growth prospects caused a drop in German investor confidence in September, According to the ZEW Institute.
About Fourth consecutive decline. Thus, German investor confidence stands at 26.5 points, compared to the expected 30.3 points. In August, it scored 40.4 points.
And he threw a jug of cold water into the sacks who were well aware of the German data. IBEX 35 keeps falling sweet, waiting for another great date of the week: European Central Bank meeting.
For its part, the DAX took the hit, dropping 0.30 percent.
The reading missed economists’ expectations of 57.5 points, taken from a Wall Street Journal poll.
“Although financial market experts expect further improvements in the economy over the next six months, the expected scale and dynamics of the improvements have diminished significantly,” explained Achim Wambach, president of the ZEW Institute.
Growth prospects are getting worse
The Global chip shortage in the auto sector and the The shortage of materials in the construction sector Wambach insisted that it caused a significant drop in earnings expectations for these sectors, dampening the economic outlook.
The assessment of the current economic situation in Germany continued to improve, rising to 31.9 in September from 29.3 in August. The reading compares with economists’ expectations of 33 points.
This sub-index has seen a steady increase since February 2021, when it settled at -67.2 points. It has grown by 72 points since May, while the expectations sub-index has fallen by 57.9 points.
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