The outlook for the German economy looks unexpectedly bleak, according to German investors and analysts. The Zew-index, a monthly survey of sentiment, fell to 3.6.
In August, the Zew-index was at 19.2. Analysts had on average expected the Zew-index to decline, but only to 17.0, according to Bloomberg's compilation of forecasts.
As for the current situation, the sub-index fell to minus 84.5. This can be compared to minus 77.3 in August. Analysts had on average expected a decline for this sub-index to minus 80.0.
