Germany’s ZEW data for June was softer than expected all around, with current conditions falling from 87.4 to 80.6 (mkt 85.0) and expectations from -8.2 to -16.1 (mkt -14.0), notes the research team at TDS.
Key Quotes
“A ZEW spokesman confirmed that this was due to the escalation of trade conflicts with the US and fears of destabilization from Italy, and added that the outlook for the next six months has “significantly deteriorated.”
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