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german zew

Last month’s ZEW survey showed a drop in optimism among German businesses across the board.

The measure was still comfortably in expansion but had come off the 20-year highs of September.

During the summer, many leaders had become comfortable with the relatively low number of covid cases in Europe. So much so that they believed that a second round of lockdowns would almost certainly be avoided.

Government officials were on the record stating that they would not reimpose them. And those same government officials have now implemented lockdowns.

Europe’s relative lack of cases in summer compared to the US likely led strategists to believe that Europe had managed the pandemic.

This led to the conclusion that a second wave would be avoidable or not as bad as the first.

The surge in cases seen in October in particular has apparently caught many people by surprise.

Authorities have been much slower this time around in implementing anti-covid measures, This potentially suggests tha...

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