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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
GERMANY OCT ZEW CURRENT CONDITIONS -72.2 (FCST -68.5); SEP -60.5
GERMANY OCT ZEW EXPECTATIONS -59.2 (FCST -66.5); SEP -61.9
- The ZEW survey recorded a modest 2.7-point improvement in the German economic expectations index for October, beating expectations after nearing historic 2008 lows last month.
- Current conditions plunged 11.7 points to -72.2, the lowest since 2003. Both indicators remain deeply pessimistic and imply a deterioration in assessments.
- Anticipated energy shortages ahead of winter remain a key downwards driver for German industry outlooks as energy-intensive production sees further cuts. Pessimistic outlooks regarding growth in China add to lower export demand.
- Despite CPI slowing in major eurozone economies Spain and France, the 2.1pp jump in headline CPI to 10.0% in September confirms that the German economy is yet to see relief as high prices continue to drag down demand.
- On Oct 28 flash GDP data will signal a contraction of the German economy, expected to kick off a Winter recession after almost stalling in Q2. This adds to a slew of worsened growth outlooks for the ECB, which looks set to tighten policy by a further 75bp next week.
- No notable market reaction was seen as focus remains on the UK.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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