Massive global slump
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04 August 2024
Posted in
sentix Economic News
Following the severe setback of the "first mover" in the previous month, there is now another, more pronounced economic slump in August. The global recovery comes to a halt. The sentix economic index for the eurozone fell by a whopping 6.6 points. The overall index now stands at -13.9 points, the lowest level since January 2024, with expectations falling even more sharply by 10.3 points. Germany in particular is in a nosedive. The overall index lost a whopping 12.0 points. The current assessment even deteriorated to -42.8 points, the worst value since June 2020! The expectations component plummeted to -18.5 points. The recession bells are ringing once again in Germany. Signs of fatigue are also evident in the USA: The overall index loses 9.0 points for the fourth time in a row. Expectations also indicate an accelerated slowdown. The rest of the world, including the Asian region, is lagging behind.
Headlines of the month
- The global economy is in decline. The sentix economic index for the eurozone has slumped by a whopping 6.6 points. The overall index now stands at -13.9 points, the lowest level since January 2024, with expectations plummeting even further by 10.3 points.
- Germany is also in a nosedive. The overall index fell by 12.0 points - despite already weak values in the previous month. The situation assessment even deteriorated to -42.8 points, the worst value since June 2020! The expec-tations component plummeted to -18.5 points. The recession bells are ringing again in Germany.
- Now the US economy is also taking a hit. The overall index has lost 9.0 points. In addition, expectations indicate an accelerated slowdown: The decline of 7.5 points to -10 points is the lowest value for the US economy since July 2023. The rest of the world is following in its wake.
sentix Eco Report Euro area
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