ZURICH (MaceNews) – Economic sentiment in Germany fell in September as a sharp decline in expectations weighed in sentiment, according to the latest report from the ZEW Institute in Mannheim.
ZEW’s economic indicator fell 13.9 points in the September survey to 26.5, coming in below the median of 30.0 in an Econoday survey of economists’ forecasts.
Current conditions improved slightly rising 2.6 points to a reading of 31.9, with the result falling short of the Econoday median of 33.0. ZEW noted that current conditions have continuously improved since February 2021 when the index was a -67.2.
A “Global chip shortage in the automobile sector and shortage of building material in the construction sector have caused a significant reduction in profit expectations for these sectors. This may have had a negative effect on economic expectations,” comments ZEW President Professor Achim Wambach.
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