(MENAFN) On Tuesday, Dec. 7 the Mannheim-based financial research center informed, Germany's economic sentiment fell to 29.9 in the current month.
According to the Leibniz Centre for European Economic Research (ZEW), the industry estimation for the economic sentiment was 25.3, down from 31.7 last month. For its first time since June, the number fell below zero.
In a declaration, ZEW Leader Achim Wambach stated, “The German economy is suffering noticeably from the latest developments in the COVID-19 pandemic. Persisting supply bottlenecks are weighing on production and retail trade.”
Mr. Wambach further said: “The decline in economic expectations shows that hopes for much stronger growth in the next six months are fading. Especially the earnings expectations of export-oriented and consumer-related industries are assessed more negatively.”
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