German economic outlook deteriorates for first time in a year - ZEW

16th Jul 2024 10:52

(Sharecast News) - The economic outlook in Germany deteriorated in July for the first time in a year, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim.

The headline ZEW investor expectations index fell 5.7 points from June to 41.8, coming in below expectations for a reading of 42.3.

Meanwhile, the current conditions index improved by 4.9 points to -68.9 points in July.

ZEW President Achim Wambach said: "The economic outlook is worsening. For the first time in a year, economic expectations for Germany are falling.

"The fact that German exports decreased more than expected in May, the political uncertainty in France and the lack of clarity regarding the future monetary policy by the ECB have contributed to this development."