EUR: Economic sentiment slips in Germany

The euro weakened slightly against the dollar yesterday following economic data from Germany.

The ZEW indicator of economic sentiment slipped for the fifth month, showing that supply bottlenecks are impacting the recovery of Europe’s largest economy. This was worse than market expectations.

For the eurozone as a whole, the ZEW indicator fell for the fifth month in a row and was its lowest since March 2020.

Inflation rate data for Germany was released this morning, coming in as expected at 4.1% year-on-year in September. This was the highest reading since 1993.

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