Germany ZEW Economic Sentiment jumped to 84.4 in May, up from 70.7, well above expectation of 71.0. That’s the highest level since in two decades since 2000. Germany Current Situation index improved to -40.1, from -48.8, above expectation of -42.6. Eurozone Economic Sentiment rose to 84.0, up from 66.3, above expectation of 71.2. Eurozone Current Situation rose 14.1 pts to -51.4.
“The slowing down of the third COVID-19 wave has made financial market experts even more optimistic. The ZEW Indicator of Economic Sentiment in the May survey has reached its highest level in more than 20 years. The assessment of the economic situation has also improved noticeably. The experts expect a significant economic upswing in the coming six months. The economic outlook for the euro area and the United States has improved considerably as well,” comments ZEW President Professor Achim Wambach on current expectations.
