The indicator on the prospects of the German and European economy dropped more than expected in November. The figure demonstrates how uncertainty is spreading among economics experts.
The Zew index on German economic prospects fell more than expected. It settled at -55,2 in November, up from -48,3 in October, while the estimated value was -52. The Zew is an indicator built on the judgments of 350 experts and is extremely volatile.
The sub-index on current economic conditions also fell from 38,4 to 34,2. The Zew institute has announced that the crisis in Greece and Italy has contributed to the drop in confidence, as well as the slowdown in international trade.
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