Don’t know what happened here, but lost slab of stuff. Here we go:

Weaker than median forecast of 25.0.

ZEW says:

  • Figures signal potential for further improvement to have been used up widely
  • Sovereign debt crisis, resulting need for austerity seems to have contributed to subdued economic expectations
  • Investors expect German business activity to slow down towards end of year. But expectations still relatively high
  • Do not think bank stress tests will have impact on sentiment
  • No change in banking profit expectations vs last month
  • No inflationary pressure in euro zone seen by investors
  • The panic regarding sovereign debt crisis seems to be over
  • No indication of double dip recession from the survey
  • Weaker growth seen in the euro zone at large than in Germany