The financial market experts’ sentiment concerning the economic development of the eurozone experienced an increase in October and currently stands at plus 2.3 points, back in the positive range and 11.2 points above the previous month’s value. In contrast, the situation indicator decreased considerably, falling 9.8 points to a new reading of -52.4 points. This must be taken into account when assessing the increased expectations, ZEW said in a press release.
Germany’s ZEW Indicator of Economic Sentiment rose by 10.3 points to -1.1, indicating a positive outlook.
The assessment of Germany’s economic situation slightly dipped by 0.5 points to -79.9.
In the eurozone, financial experts’ sentiment improved, rising by 11.2 points to 2.3.
However, the situation indicator for the eurozone fell by 9.8 points to -52.4.
“It seems that we have passed the lowest point. There’s a noticeable uptick in the economic expectations of financial market experts in October 2023. In contrast, the assessment of the current economic situation in Germany has barely changed. The heightened economic expectations are accompanied by the anticipation that inflation rates will decrease further and the fact that now more than three-quarters of respondents anticipate stable short-term interest rates in the eurozone. Negative factors such as the Israel conflict—cited by some respondents as a reason for revising their growth forecasts downward—had only limited impact on the overall more optimistic outlook,” commented ZEW president professor Achim Wambach on the survey results.
Fibre2Fashion News Desk (NB)
