Survey shows more pessimism about German economy
FRANKFURT, Germany (AP) — Germany's ZEW survey of investment analysts fell for the tenth consecutive month in October, adding to a string of downbeat economic data about Europe's largest economy and the eurozone as a whole.
The index fell to minus 3.6 points from 6.9 points in September. That was worse than the zero expected by market analysts.
The ZEW reading follows drops in industrial production, exports, factory orders, and the much-watched Ifo confidence survey among business executives. The run of worrisome numbers has raised fears Germany's economy may stagnate or even slip into recession in coming months.
ZEW institute head Clemens Fuest said geopolitical tensions and weakness in some economies in the 18-country euro currency union were to blame. Russia's conflict with Ukraine has had German businesses on edge and deterred investment.