Latest data shows that the economic expectations index compiled by the ZEW institute rose by just 0.5 points in September to 34.7 points. Although this was the fifth consecutive increase, the result fell far short of analysts’ expectations. Analysts surveyed by FactSet expected a 10-point increase.
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ZEW president Achim Wambach notes that investor sentiment is deteriorating due to rising energy costs, triggered by the US war with Iran and the near-complete closure of the Strait of Hormuz.
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