German investor confidence plunges to lowest since January

Germany's ZEW Economic Sentiment index fell from 41.8 to 19.2 in August, missing forecasts and marking its steepest drop since July 2022. The Current Situation Index also declined, dropping from -68.9 to -77.3.

In the Eurozone, the ZEW index dropped from 43.7 to 17.9, below expectations, while the Current Situation Index improved slightly to -32.4.

ZEW President Achim Wambach stated that the economic outlook for Germany is “breaking down.” He noted that ongoing uncertainty and disappointing US business data contribute to bleak expectations, especially in export-intensive sectors.