Pessimistic sentiment among service providers leads to lower CFS Index level
The CFS Index, which tracks the sentiment of the German financial sector on a quarterly basis, falls by -1.3 points to the level of 106.6 points. The surveyed service providers report lower growth for the second quarter in terms of revenue, earnings, employee numbers and investment volume.
German financial sector expects a recession and sustained high inflation rates / Banks to remain stable
Europe’s economy has been facing enormous challenges since the outbreak of war in Ukraine: high inflation rates, soaring energy prices and falling growth rates could plunge Europe into a severe recession.
