German Economic Expectations Even Gloomier In July

Views on the state of the German economy darkened again in July, according to a key survey, as analysts weighed factors including rising tensions in the Gulf, the US-China trade dispute and uncertainty around the UK’s exit from the EU, the Financial Times reported. The Zew survey of financial market experts indicated deteriorating views on both the current state of and outlook for Europe’s powerhouse industrial economy. “In particular the continued negative trend in incoming orders in the German industry is likely to have reinforced the financial market experts’ pessimistic sentiment,” said Achim Wambach, president of Zew, a Mannheim-based research house. The economic sentiment indicator fell 3.4 points to minus 24.5, worse than the score of minus 22.3 expected in a Reuters poll. The analysts’ view on the current state of the economy fell 8.9 points to give a reading of minus 1.1. Read more