21:14 13 August 2019
Economic mood in Germany at its worst in eight years
The index of the German ZEW institute amounted to -44.1 points in August, compared to the previously expected -28.5 points. In July, the index stood at -22.3 points. The ZEW institute’s reading shows that the mood in Germany is at its worst since 2011. “The recent escalation of the trade dispute between the US and China, the risk of currency devaluation and the increased likelihood of Brexit without an agreement put additional pressure on an already weak economic growth,” explained Achim Wambach, the president of ZEW.
