German and Eurozone Growth Figures Show Sharp Slowdown: ZEW Index Falls Far Worse than Expected

Both the actual growth figures and the so-called ZEW index for the outlook show a sharp slowdown. It was expected that the ZEW index would fall from just above zero to clearly negative values ​​for both Germany and the eurozone.

The numbers were far worse than expected. For Germany, ZEW went from 4.1 to minus 10.7.

At the same time, preliminary GDP figures for the eurozone show that growth calculated as an annual rate fell from 1.8 to 1.3 per cent. This was as expected.

The ZEW index for the current state is also clearly deteriorating. After a score of minus 32.5, the rating now dropped to 34.8.