German ZEW Economic Sentiment rose to 46.0 in May, up from 25.2, beat expectation of 27.4. That’s the second increase in a row. However, Current Situation Index dropped slightly by -2.0 to -93.5, below expectation of -87.8. Eurozone ZEW Economic Sentiment rose to 51.0, up from 28.2, beat expectation of 30.0. Current Situation Index also dropped slightly by -1.1 to -95.0.
“Optimism is growing that there will be an economic turnaround from summer onwards. This is also reflected in the significant improvement in expectations for the individual sectors. According to the financial market experts surveyed, economic growth is expected to pick up pace again in the fourth quarter of 2020. However, the catching-up process will take a long time. Only in 2022 will economic output return to the level of 2019,” comments ZEW President Achim Wambach.
