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COVID, supply problems darken German investor morale -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Frankfurt skyline and the Financial District are photographed at sunset on April 22, 2020 in Frankfurt (Germany), as the spreading of coronavirus disease COVID-19 continues. REUTERS/Kai Pfaffenbach

BERLIN, (Reuters) – German investor sentiment deteriorated during December. A fourth wave COVID-19 infected and persistent manufacturing supply issues clouded Europe’s growth prospects.

According to the ZEW economic research center, its economic sentiment index dropped from 31.7 points in November to 29.5. A Reuters poll forecasted a decline to 25.1

Achim Wambach (ZEW President) stated in a statement that “the German economy is experiencing noticeably” from recent developments in the COVID-19 Pandemic. He added that persisting supply bottlenecks are weighing down on both production and retail trade.

Current conditions index dropped from 12.5 to 7.4, while the consensus forecast of 5.0 was reflected in its lower value.

Wambach stated that “the decline in economic expectation shows that hope for stronger growth in six months is fading.”

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