Latest data released by ZEW – 12 November 2019
- Prior -25.3
- Expectations -2.1 vs -13.0 expected
- Prior -22.8
- Eurozone expectations -1.0
- Prior -23.5
The headline reading is a little worse than expected but off the lows since April 2010 that was posted back in October. The good news in the report here is that the expectations/outlook shows a significant improvement.
ZEW notes that growing hope that the international economic policy environment will improve led to the sharp rise in sentiment there i.e. delay in auto tariffs, Brexit deal and US-China trade talks also progressing.
All that may sound good but the caveat in my view is that whatever hope there is hangs on by a thread still at this stage. A significant rebound/recovery in the global economy is still not a given for the time being.