More than a summer lull

Concerns about the further development of the global economy have probably not diminished with the latest values of the sentix business cycle indices. For in the "Global Aggregate Index" we note the fifth decline in a row. The Eurozone is certainly making a particular contribution to this. At -22.5 points, the overall index for the Eurozone has fallen to its lowest level since November 2022. The values for Germany, the most important econ-omy in the Eurozone, can only be described as "dramatically bad". However, the "Asia ex Japan" region also con-tributes significantly to the weak global picture, as the overall index here also falls for the fifth time in a row.

Full report July 2023

Headlines of the month

  • In July, the sentix economic index for the Eurozone fell for the third time in a row. At -22.5 points, it is at its lowest level since November 2022 and clearly misses Bloomberg analysts' estimates. Situation and expectations are weak.
  • The situation in Germany, the largest economy in the euro area, remains particularly dramatic. Here, too, we measure the situation, expectations and the overall index (currently -28.4 points!) at the lowest levels since October and November 2022 respectively. And there seems to be no improvement in sight.
  • With the exception of the US, which continues to resist the global downturn, there are only negative developments to report across the board. The fifth consecutive decline is particularly severe for the Asian region. The global aggregate also drops for the fifth time in a row to -7.6 points.

sentix Eco Report Euro area

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