"We are also harming ourselves"
09 May 2022
Posted in
sentix Economic News
War only knows victims. The traces of the Ukraine conflict are also becoming increasingly visible in the economy. The sanctions against Russia are having an effect, on enemies and friends alike. Last month, the "first mover" economic index clearly pointed the way towards recession. At the beginning of May, the downturn deepened further. Europe is hit particularly hard. The overall Eurozone index drops to -22.6 points. And for Germany we report an all-time low in economic expectations. In other words: it's coming thick and fast.
Headlines of the month
- The sentix business cycle index continues to fall, reaching -22.6 points, its lowest level since June 2020. The situation and expectations alike slump by around 5 percentage points. The recession is becoming visible.
- Germany's economy minister is right: "We are also harming ourselves" and to a considerable extent. Economic expectations for Germany mark an all-time low and the situation index also falls for the third time in a row.
- The economic downturn is being felt all over the world. Also in the US, where the overall index falls for the sixth time in a row, reaching -2.9 points, the lowest level since September 2020. The corona lockdowns in China are weighing heavily on the Asian region. Here, the overall index falls by 10.1 points!
sentix Eco Report Euro area
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