Germany ZEW Economic Sentiment rose slightly from -10.7 to -8.5 in May, above expectation of -14.7. Current Situation index, however, fell “very sharply” from -34.8 to -56.5, much worse than expectation of -40.
“The ZEW Indicator of Economic Sentiment shows a slight improvement, but it remains in negative territory. This means that experts do not anticipate an improvement in the economic situation during the second half of the year. Particularly, sectors focused on exports are likely to perform poorly due to a weak global economy. However, the current recession is generally not considered particularly alarming,” comments ZEW President Achim Wambach.
Eurozone ZEW Economic Sentiment dropped from -9.4 to -10.0, above expectation of -13.1. Current Situation index dropped from -14.4 to -41.9.
Eurozone balance for short-term interest rates stands at 72.3, indicating anticipated rate hikes. On the other hand, balance for short-term interest rates for the US stands at 16.6, indicating no change in interest rates.
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