ANKARA

Germany's economic outlook took a significant hit in September, with data from the ZEW economic research institute revealing a sharp decline in economic sentiment.

The index fell 15.6 points from the previous month, settling at 3.6 points, the lowest level since October of last year.

Achim Wambach, head of ZEW, noted, “The hope for a swift improvement in the economic situation is visibly fading.”

The assessment of the current economic situation in Germany also worsened, dropping by 7.2 points to minus 84.5 points, the lowest since May 2020.

The ZEW indicator of economic sentiment for the euro area also saw a decline, decreasing 8.6 points month-on-month to 9.3 points in September.