ZEW-index: German economic sentiment fell

In August, a significant deterioration occurred in the economic sentiment in Germany – shows the survey of ZEW. The main index decreased from -15.1 points to -37.6 points (a level not seen since December 2008).

According to Wolfgang Franz, manager of the institute; the index fell so huge due to the adverse developments in the euro area and the disappointing growth prospects. The current situation index also deteriorated significantly. During a single month the index fell more than 37 points (from 90.6 points to 53.5 points) – reports portfolio.hu.