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File: August 2014 Eco Report (Engl.)

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The Russia Effect – Germany sends a cyclical downturn alarm

The sentix economic indices leave their mark with a strong drop in August! The total index for Euroland is reduced by 10.1 to now only 2.7 points. The economic expectations put especially strong pressure on the total index. A surprising drop by 13.3 points is founded on the EU's economic sanctions against Russia. The German index feels this effect in particular: the total index there drops even more strongly from 29.0 points to now only 17.9 points. Here, expectations lose 13.1 points and are now negative for the first time since November 2012 at -1.3 points. The USA and Asia ex Japan are fighting against the trend – however, their expectational components drop, also. All these slumps are founded in the Ukraine crisis which is now radiating out more and more strongly. The index for Eastern Europe drops to -12 points and, with that, into recession mode.

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