German ZEW Economic Confidence Plummets

German economic sentiment deteriorated in August on ambiguous monetary policy, disappointing data from the US economy and escalating conflicts in the Middle East, survey results from the think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment declined sharply by 22.6 points to 19.2 from 41.8 in July. The last time expectations deteriorated in a similar manner was July 2022.

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