Following the release of the monthly ZEW Survey for Germany, the country’s highly influential institute presents a dour outlook of the economy.

“Assessment of the economic situation in Germany has worsened in the current survey.”

“Compared to the previous month, the outlook for the economic development in the next six months has noticeably deteriorated.”

“Further decline of the ZEW indicator of economic sentiment is mainly due to the persisting supply bottlenecks for raw materials and intermediate products.”

“Financial market experts expect profits to go down, especially in export-oriented sectors such as vehicle manufacturing and chemicals/pharmaceuticals.”

“49.1 percent of the experts still expect the inflation rate to rise further in the next six months.”

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