Germany: ZEW Index showed a strong deterioration in conditions - TDS

The German ZEW Index for October showed a strong deterioration in conditions, with the Expectations Index falling nearly 15 points to -24.7 (mkt: -12.0), matching its July reading for the lowest print since 2013, notes the research team at TD Securities.

Key Quotes

“The Current Conditions Index fell too, to 70.1 (mkt: 74.4). The decline in the index was largely driven by the auto sector, which reverted back to its July lows on trade war fears.”