Latest data released by ZEW – 13 October 2020

  • Prior -66.2
  • Expectations 56.1 vs 72.0 expected
  • Prior 77.4
  • Eurozone expectations 52.3
  • Prior 73.9

The current situation reading shows some added improvement but is still highly subdued for the most part, but the drop in the expectations component is more concerning.

ZEW notes that the drop comes amid the recent sharp rise in virus cases, leading to an increase in uncertainty about future economic developments. Brexit concerns and uncertainty surrounding the US election are also part of what is weighing on optimism.

It looks like the hopeful euphoria seen in August and September is beginning to fade and that does not bode well for the economic outlook going into the year-end.

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