ZEW: strong increase in economic sentiment
The ZEW Indicator of Economic Sentiment for Germany has increased in June 2016. The index has improved by 12.8 points compared to the previous month, now standing at 19.2 points (long-term average: 24.4 points)."The improvement of economic sentiment indicates that the financial market experts have confidence in the resilience of the German economy. However, general economic conditions remain challenging. Apart from the weak global economic dynamics, it is mainly the EU referendum in Great Britain which causes uncertainty," says Professor Achim Wambach, President of ZEW.
The assessment of the current situation in Germany has slightly improved. Growing by 1.4 points, the index now stands at 54.5 points.
Financial market experts' sentiment concerning the economic development of the Eurozone has improved. ZEW's Indicator of Economic Sentiment for the Eurozone has increased by 3.4 points to a reading of 20.2 points. Falling by 0.8 points in June 2016, the indicator for the current situation in the euro area has dropped to a value of minus 10.0 points.