Record Low Shows DATAWATCH ZEW

By: trademagazin Date: 2008. 07. 16. 00:00

The ZEW index dropped to -63.9 in July from -52.4 in June, declining for the fourth month in succession and setting a new record low for the series.


The previous low dated back to December
1992, when the index hit -62.2. The current conditions index also
declined sharply, falling to +17.0 from +37.6.

High oil prices, weakening
manufacturing orders and slowing exports will also have depressed
confidence this month, economists said.

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