After a recovery for several months, ZEW’s economic expectations in November appear much less optimistic.
Mannheim (dpa) – The economic expectations of German financial experts deteriorated significantly again in November in the context of a second corona wave.
As announced by the Mannheim Center for European Economic Research (ZEW), the indicator it collected fell 17.1 points to 39.0 points.
The indicator is therefore still in positive territory, but after the second consecutive decline, the euphoria of the summer months has evaporated. In the third quarter, the German economy started to recover strongly after the fall of the Crown in spring.
Respondents were concerned about the economic effects of the second crown wave, explained ZEW Chairman Achim Wambach. In his opinion, the data point to “a clear slowdown in the economic recovery process in Germany.”
The assessment of the current situation also deteriorated in November. The corresponding indicator fell 4.8 points to minus 64.3 points.