German ZEW Investor Outlook Set To Slip As Energy Cost Rise
/*jshint esversion: 6 */
var socket;
var assigned_server = 3001;
var distributor_server = 3010;
var publisher_channel = '';
var broadcaster_channel = '';
var remote_ip = '';
var session_info = {};
var logging_interval;
var logging_interval_time = 120000;
var socket_emits = 0;
var session_start_time;
var reconnectionDelayGrowFactor = 1.2;
var reconnection_delay = 1000;
var playing = false;
var connected_to_assigned = false;
var socket_close_timeout;
var player_disconnected_annoucement_play_delay = 1500;
var player_disconnected_annoucement_play_timeout = null;
const TOKEN_ENDPOINT = "https://www.livesquawk.com/api/get_token.php";
self.onmessage = function (msg) {
switch(msg.data.action) {
case 'Reactivate': reactivate(); break;
case 'ConnectDistributor': connect_to_distributor(msg); break;
case 'SessionStaticInfo': session_static_info(msg); break;
case 'SessionInfo': update_session_info(msg.data); break;
case 'PauseLogging': clearTimeout(logging_interval); break;
case 'RestartLogging': postMessage({action: 'RequestSessionStaticInfo' }); break;
case 'JoinPublisherChannel': join_publisher_channel(msg.data); break;
case 'JoinPlayerChannel': join_player_channel(msg.data); break;
case 'CheckChannelStatus': check_channel_status(msg.data); break;
case 'PlayerLogResponse': player_log_response(msg.data); break;
case 'CloseSocket': close_socket(); break;
case 'RequestMessageSearch': request_message_search(msg.data); break;
case 'RequestMoreMessages': request_more_messages(msg.data); break;
case 'PlayerDisconnectedAnnoucementTimeoutStart': player_disconnected_annoucement_timeout_start(); break;
case 'PlayerDisconnectedAnnoucementTimeoutClear': player_disconnected_annoucement_timeout_clear(); break;
case 'GetConnectionState': checkSocketConnectionState(); break;
}
};
function player_disconnected_annoucement_timeout_clear() {
clearTimeout(player_disconnected_annoucement_play_timeout);
player_disconnected_annoucement_play_timeout = null;
}
function player_disconnected_annoucement_timeout_start() {
player_disconnected_annoucement_play_timeout = setTimeout(function() { send_play_disconnect_annoucement(); }, player_disconnected_annoucement_play_delay );
}
function send_play_disconnect_annoucement() {
postMessage({action: "PlayDisconnectAnnoucement"});
}
function reactivate() {
playing = false;
connect_to_assigned_server();
}
function player_log_response(data) {
var data_array = {};
data_array.type = 'PlayerLogResponse';
data_array.respond_to_socket_final = data.respond_to_socket_final;
data_array.respond_to_socket = data.respond_to_socket;
data_array.player_socket_id = data.player_socket_id;
data_array.logs = data.logs;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function request_message_search(data) {
var data_array = {};
data_array.type = 'request_message_search';
data_array.publisher_channel = data.publisher_channel;
data_array.search_term = data.search_term;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function request_more_messages(data) {
var data_array = {};
data_array.type = 'request_more_messages';
data_array.publisher_channel = data.publisher_channel;
data_array.last_record_id = data.last_record_id;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function check_channel_status(data) {
var data_array = {};
data_array.type = 'check_channel_status';
data_array.app_name = data.app_name;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1 && connected_to_assigned) { socket.send(msg_string); }
else { setTimeout(function() { check_channel_status(data); },500); }
}
function check_channel_status_response(data) {
postMessage({ action: 'CheckChannelStatusReponse', stream_status: data.stream_status.status, onair: data.stream_status.onair, connected: data.stream_status.connected });
}
async function join_publisher_channel(data) {
if (typeof data.jwt_token === 'string' && data.jwt_token !== '') {
if (!socket || socket.readyState !== WebSocket.OPEN) {
console.warn("[Page worker] JWT join skipped: socket not open");
return;
}
socket.send(JSON.stringify({
type: "join_publisher_channel",
jwt_token: data.jwt_token,
publisher_channel: data.publisher_channel,
username: data.username,
subscriber_group: data.subscriber_group,
display_name: data.display_name,
single_sign_on: data.single_sign_on,
remote_ip: data.remote_ip,
http_referrer: data.http_referrer,
current_page: data.current_page,
php_session_id: data.php_session_id,
from_react: data.from_react,
...(typeof data.api_key === "string" && data.api_key.trim() !== "" ? { api_key: data.api_key } : {}),
}));
console.log("[Page worker] Sent supplied JWT join");
postMessage({ action: 'PublisherChannelJoined' });
return;
}
const joinSocket = socket; if (!joinSocket || joinSocket.readyState !== WebSocket.OPEN) { return; }
const apiKey = typeof data.api_key === "string" ? data.api_key.trim() : "";
const partnerName = partnerFromCurrentPage(data.current_page);
let tokenBody;
if (apiKey !== "") { tokenBody = { api_key: apiKey }; }
else if (partnerName) { tokenBody = { partner_name: partnerName }; }
else { tokenBody = { username: data.username || "", publisher_channel: data.publisher_channel || "", }; }
let jwtToken = null;
try {
const requestStartedAt = Date.now();
const response = await fetch(TOKEN_ENDPOINT, {
method: "POST",
headers: { "Content-Type": "application/json" },
body: JSON.stringify(tokenBody),
credentials: "same-origin",
cache: "no-store",
});
if (!response.ok) {
throw new Error(`token endpoint returned ${response.status}`);
}
const tokenData = await response.json();
if ( !tokenData || typeof tokenData.token !== "string" || tokenData.token === "" ) {
throw new Error("token endpoint returned no token");
}
const expiresIn = Number(tokenData.expires_in);
if (!Number.isFinite(expiresIn) || expiresIn <= 0) {
throw new Error("token endpoint returned an invalid lifetime");
}
const expiresAt = requestStartedAt + (expiresIn * 1000);
if (expiresAt <= Date.now() + 30000) {
throw new Error("token response has insufficient remaining lifetime");
}
jwtToken = tokenData.token;
}
catch (error) {
console.warn("[Page worker] Token request failed", error);
// API-key requests must not silently bypass token authentication.
if (apiKey !== "") { postMessage({ action: "auth_failed" }); return; }
}
// A reconnect during the fetch makes this join attempt obsolete.
if ( socket !== joinSocket || joinSocket.readyState !== WebSocket.OPEN ) { return; }
const payload = {
type: "join_publisher_channel",
publisher_channel: data.publisher_channel,
username: data.username,
subscriber_group: data.subscriber_group,
display_name: data.display_name,
single_sign_on: data.single_sign_on,
remote_ip: data.remote_ip,
http_referrer: data.http_referrer,
current_page: data.current_page,
php_session_id: data.php_session_id,
from_react: data.from_react,
};
if (apiKey !== "") { payload.api_key = apiKey; }
if (jwtToken) { payload.jwt_token = jwtToken; }
console.log( jwtToken ? "[Page worker] Sending fetched JWT with legacy details" : "[Page worker] Sending legacy join without JWT" );
joinSocket.send(JSON.stringify(payload));
postMessage({ action: "PublisherChannelJoined" });
}
function partnerFromCurrentPage(current_page) {
try {
if (!current_page) return '';
const fullUrl = current_page.startsWith('http') ? current_page : `https://${current_page}`;
return new URL(fullUrl).searchParams.get('partner_name') || '';
} catch (e) { return ''; }
}
function session_static_info(msg) {
set_static_session_info(msg.data);
start_log();
}
function connect_to_distributor(msg) {
publisher_channel = msg.data.publisher_channel;
remote_ip = msg.data.remote_ip;
socket = new WebSocket("wss://ws.livesquawk.com/ws"+distributor_server);
socket.onopen = function(event) { request_server_assignment(); };
socket.onmessage = function(event) {
var msg_string = event.data.toString();
var data = JSON.parse(msg_string);
switch(data.type) {
case 'server_assignment_response': server_assignment_response(data); break;
}
};
}
function session_info_interval() {
postMessage({action: 'RequestSessionInfo' });
logging_interval = setTimeout(session_info_interval,logging_interval_time);
}
function server_assignment_response(data) {
assigned_server = data.selected_server;
socket.close();
connect_to_assigned_server();
}
function request_server_assignment() {
var data_array = {};
data_array.type = 'request_server_assignment';
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function connect_to_assigned_server() {
socket = new WebSocket("wss://ws.livesquawk.com/ws"+assigned_server);
socket.onopen = function(event) {
postMessage({ action: 'VisibleConsole',console_string: "Connected to server "+assigned_server });
console.log("Connected to server "+assigned_server);
postMessage({ action: 'ConnectedToAssigned' });
connected_to_assigned = true;
if (playing) {
postMessage({ action: 'RejoinPlayerChannel' });
}
};
socket.onmessage = function(event) {
var msg_string = event.data.toString();
var data = JSON.parse(msg_string);
if (data.type != 'server_ping') { /* console.log(data.type); */ }
switch(data.type) {
case 'reconnect': postMessage({ action: 'VisibleConsole',console_string: "Reconnected" }); break;
case 'reload': postMessage({ action: 'Reload' }); break;
case 'start_log_response': start_log_response(data); break;
case 'application_refresh_start': application_refresh_start(data); break;
case 'application_refresh_stop': application_refresh_stop(data); break;
case 'player_log_request':
case 'check_channel_status_response': check_channel_status_response(data); break;
case 'PlayerLogRequest':
case 'new_tweet':
case 'new_latest_news':
case 'delete_report':
case 'add_report':
case 'add_ref_doc':
case 'calendar_change':
case 'calendar_insert':
case 'calendar_delete':
case 'new_note':
case 'AppStart':
case 'AppStop':
case 'BroadcasterStarted':
case 'BroadcasterStopped':
case 'added_cme_report':
case 'updated_cme_report':
case 'added_cme_commentary':
case 'updated_cme_commentary':
case 'server_assignment_response':
case 'initial_messages':
case 'message_categories':
case 'more_messages':
case 'matched_messages':
pass_straight_to_post_message(data);
break;
case 'output':
case 'server_ping':
case 'reconnect':
case 'disconnect':
break;
}
};
socket.onerror = function(event) {
postMessage({ action: 'VisibleConsole',console_string: "LS Socket Error" + event.type });
console.log(event);
postMessage({ action: 'LSSocketConnectionError' });
};
socket.onclose = function(event) {
console.log('Socket is closed. Reconnect will be attempted in 1 second.', event.reason);
socket_close_timeout = setTimeout(connect_to_assigned_server, reconnection_delay);
reconnection_delay = reconnection_delay*reconnectionDelayGrowFactor;
connected_to_assigned = false;
};
}
function checkSocketConnectionState() {
postMessage({ action: 'SocketConnectionState', connected: Boolean(socket && socket.readyState === WebSocket.OPEN && connected_to_assigned ), });
}
function close_socket() {
clearTimeout(socket_close_timeout);
socket_close_timeout = null;
socket.onclose = function(event) {};
socket.onmessage = function(event) {};
socket.onerror = function(event) {};
socket.close(1000);
console.log('Socket Closed');
}
function pass_straight_to_post_message(data) {
data.action = data.type;
postMessage(data);
}
function join_player_channel(data) {
var data_array = {};
data_array.type = 'join_player_channel';
data_array.player_channel = data.player_channel;
data_array.remote_ip = data.remote_ip;
data_array.username = data.username;
data_array.app_name = data.app_name;
data_array.onair_status = data.onair_status;
data_array.http_referrer = data.http_referrer;
data_array.current_page = data.current_page;
data_array.php_session_id = data.php_session_id;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
postMessage({action: 'PlayerChannelJoined' });
playing = true;
}
function start_log_response(data) {
session_info.session_id = data.log_record_id;
session_info_interval();
}
function application_refresh_start(data) {
if (data.app_name == session_info.application_name) { postMessage({action: 'ApplicationRefreshStart' }); }
}
function application_refresh_stop(data) {
if (data.app_name == session_info.application_name) { postMessage({action: 'ApplicationRefreshStop' }); }
}
function set_static_session_info(data) {
session_info.browser_codename = data.browser_codename;
session_info.browser_name = data.browser_name;
session_info.user_agent = data.user_agent;
session_info.browser_version = data.browser_version;
session_info.cookies_enabled = data.cookies_enabled;
session_info.platform = data.platform;
session_info.player_version = data.player_version;
session_info.stream = data.stream;
session_info.connection_protocol = data.protocol;
session_info.delay_target = data.delay_target;
session_info.session_email = data.session_email;
session_info.remote_ip = data.remote_ip;
session_info.php_session_id = data.php_session_id;
session_info.application_name = data.application_name;
session_info.http_referrer = data.http_referrer;
}
function start_log() {
var session_start_date = new Date();
session_start_time = session_start_date.getTime();
var months = ['Jan','Feb','Mar','Apr','May','Jun','Jul','Aug','Sep','Oct','Nov','Dec'];
var session_start_date_string = session_start_date.getDate() + " " + months[session_start_date.getMonth()] + " " + session_start_date.getFullYear();
var data_array = {};
data_array.type = 'webrtc_start_log';
data_array.remote_ip = session_info.remote_ip;
data_array.username = session_info.session_email;
data_array.php_session_id = session_info.php_session_id;
data_array.webrtc_protocol = '';
data_array.session_start_time = (session_start_time/1000).toFixed(0);
data_array.stream_name = session_info.stream;
data_array.session_start_date = session_start_date_string;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function update_session_info(data) {
var data_array = {};
var msg_string = '';
var current_date = new Date();
var current_time = current_date.getTime();
session_info.protocol = data.protocol;
session_info.curr_delay = (data.effective_latency / 1000).toFixed(2);
session_info.session_length = current_time - session_start_time;
session_info.ping_time = data.ping_time;
session_info.jitter = data.jitter;
session_info.packet_loss = data.packet_loss;
session_info.effective_latency = data.effective_latency;
session_info.mean_opinion_score = data.mean_opinion_score;
session_info.restarts = data.restarts;
if (socket_emits == 0) {
data_array = {};
data_array.type = 'webrtc_log_data_full';
data_array.connection_protocol = session_info.protocol;
data_array.threshold = 0;
data_array.curr_delay = session_info.curr_delay;
data_array.session_length = session_info.session_length;
data_array.date = current_time;
data_array.browser_codename = session_info.browser_codename;
data_array.browser_name = session_info.browser_name;
data_array.user_agent = session_info.user_agent;
data_array.browser_version = session_info.browser_version;
data_array.cookies_enabled = session_info.cookies_enabled;
data_array.platform = session_info.platform;
data_array.player_version = session_info.player_version;
data_array.stream = session_info.stream;
data_array.restarts = session_info.restarts;
data_array.delay_target = 0;
data_array.op_sys = '';
data_array.flash_version = '';
data_array.remote_ip = session_info.remote_ip;
data_array.http_referrer = session_info.http_referrer;
data_array.php_session_id = session_info.php_session_id;
data_array.user_email = session_info.session_email;
data_array.webrtc_protocol = session_info.protocol;
data_array.ping_time = session_info.ping_time;
data_array.jitter = session_info.jitter;
data_array.packet_loss = session_info.packet_loss;
data_array.effective_latency = session_info.effective_latency;
data_array.mean_opinion_score = session_info.mean_opinion_score;
data_array.session_id = session_info.session_id;
msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
else {
data_array = {};
data_array.type = 'webrtc_log_data';
data_array.session_id = session_info.session_id;
data_array.php_session_id = session_info.php_session_id;
data_array.connection_protocol = session_info.protocol;
data_array.restarts = session_info.restarts;
data_array.threshold = 0;
data_array.curr_delay = session_info.curr_delay;
data_array.session_length = session_info.session_length;
data_array.date = current_time;
data_array.webrtc_protocol = session_info.protocol;
data_array.ping_time = session_info.ping_time;
data_array.jitter = session_info.jitter;
data_array.packet_loss = session_info.packet_loss;
data_array.effective_latency = session_info.effective_latency;
data_array.mean_opinion_score = session_info.mean_opinion_score;
data_array.stream = session_info.stream;
msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
socket_emits++;
if (socket_emits == 100) { socket_emits = 0; }
}
- Outlook forecast at 32.0 points (prev 34.7)
- Current conditions seen at -45.0 (prev -47.1)
- Sentix investor morale index declines
- Data due Tuesday at 09:00 GMT / 11:00 CET
By Eric Culp, European Editor
LiveSquawk News
@eculp.bsky.social
@EricCulpLS
October 19 2026 | 09:10 GMT
FRANKFURT – The investor outlook in Germany is poised for its first drop in six months amid concerns about energy costs in Europe’s largest economy, according to analysts.
“Since October, however, the ‘fuel discount’, a reduction in energy tax, has once again been in effect in Germany,” Helaba said in a note. “This helps to somewhat mitigate the negative impacts of higher energy prices.”
However, Helaba warned that the discount won’t be enough for an improvement in the outlook for the next six months as measured by German economics institute ZEW. An analysts’ poll predicted that the forward-looking economic sentiment number from the thinktank is expected to fall to 32.0 points from 34.7 in September, which was a fifth straight rise.
The institute’s current conditions indicator is expected to edge higher to -45.0 points from -47.1, which would keep it in negative territory, its home since December 2021.
“The key development to watch will be a potential divergence between a more upbeat outlook in Germany and souring outlook in the Eurozone,” Oxford Economics wrote.
The ZEW’s forward-looking reading for the euro area is expected to slip to 24.2 points from 25.8 in September, according to economists.
War continues to make energy more costly. Brent crude has spent much of October above USD 100/bbl, stoking inflation concerns. It was trading over USD 107/bbl Monday morning after hitting USD 109 on Friday. Also on Monday, EU natural gas traded at its highest mark since the end of 2022.
Future prospects dim
Despite a fourth-straight improvement in its current conditions reading, German pollster Sentix said its overall index fell in October. “These figures may not yet fully reflect the potential complete failure of reform efforts and the resulting strain on public finances. At the very least, the German economy is showing that it has not completely decoupled from the global economy.”
Even as the Sentix headline declined thanks to a worsening outlook worsens, an improved view of the present made sense: Both the OECD and IMF have raised their forecasts for German GDP growth this year to 1.1%, with the latter upwardly revising its 2027 outlook to that mark.
On Monday morning, the Dax 40 index of German blue-chip stocks was down more than 1% from Friday but up slightly over the past five trading days. It has gained some 3.3% this year.
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