German economic sentiment deteriorated to a five-month low in October, survey data from the ZEW – Leibniz Centre for European Economic Research showed on Tuesday.

The ZEW Indicator of Economic Sentiment fell more-than-expected to 56.1 in October from 77.4 in September. This was the lowest since last May. The score was forecast to drop to 73.0.

Meanwhile, the current conditions index rose to -59.5 from -66.2 in the previous month. The expected reading was -60.0.

The recent sharp rise in the number of Covid-19 cases has increased uncertainty about future economic development, as has the prospect of the UK leaving the EU without a trade deal, ZEW President Achim Wambach, said.

The current situation in the run-up to the presidential election in the United States further fuels uncertainty, Wambach added.

The economic sentiment indicator for the euro area plunged 21.6 points to 52.3 in October. Meanwhile, the current economic situation climbed 4.3 points to minus 76.6 points.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.