Nosedive stopped, but no all clear

06 August 2023
Posted in sentix Economic News

At -18.9 points, the sentix economic index for the euro zone is 3.6 points higher than in July. The overall index thus stopped its nosedive. However, the assessment of the current situation remains weak at -20.5 points, while expectations have risen by 7.3 points to -17.3. Germany is providing fuel for the fire: The largest economy in the euro zone is becoming the sick man of the Eurozone and is weighing heavily on the region. The overall index for Germany falls for the fourth time in a row to -30.7 points. The situation slumped by 7.3 points, while the expectations score of -26 points also gave little cause for hope. By contrast, there are bright spots in the economic regions of the USA and Asia ex Japan.

Full report August 2023

Headlines of the month

• The sentix economic index for the euro zone stopped its nosedive. At -18.9 points, it is 3.6 points higher than in July. The assessment of the current situation remains weak at -20.5 points, while expectations rise by 7.3 points to -17.3.
• By contrast, the overall index for Germany falls to -30.7 points. The situation slumps by 7.3 points, while the expectations score of -26 points also gives little cause for hope. The largest economy in the euro zone is becoming the sick man of the euro zone and is weighing on the region.
• There are bright spots in the economic regions of the USA and Asia ex Japan. Here, almost all sub-components surprised with positive developments. This plus and the negative forecasts for the euro zone lead to an over-all stagnation scenario for the global economy, with the global aggregate rising by 6.6 points to -1.0.

sentix Eco Report Euro area

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