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Germany Economic Sentiment September 2023

Germany: Economic sentiment picks up in September

Economic sentiment came in at 89.0 in September, up from August’s 88.7. As a result, the index remained entrenched below the long-term average of 100, pointing to a muted near-term outlook for the economy.

The headline print reflected stronger sentiment in the industrial sector and dampened sentiment in the construction sector. Meanwhile, confidence in the services sector waned in September, while sentiment in the retail sector was up in the surveyed month. Finally, consumer confidence deteriorated in September.

Referring to indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index rose in September.

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