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ZEW Economic sentiment for German falls in February, but stays at high level

The ZEW Indicator of Economic Sentiment for Germany dropped 2.6 points to 17.8 in February. The indicator therefore still continues to be slightly below the long-term average of 23.7 points. The assessment of the current economic situation in Germany fell 2.9 points, with the corresponding indicator currently at 92.3 points.

 “The latest survey results continue to show a positive outlook for the German economy. The assessment of the current economic situation is still on a very high level and the economy is expected to improve in the coming six months”, stated ZEW President Professor Achim Wambach.

Economic growth in Germany is significantly driven by the very good development of both the global economy and private consumption. Inflation expectations for Germany and the euro area have also begun to increase.

The financial market experts’ confidence about the economic development of the euro area dropped 2.5 points, leaving the corresponding indicator at a level of 29.3 points. The indicator for the current economic situation in the euro area rebounded a bit in February.

The indicator at present stands at 57.7 points, a rise of 1.3 points from January. The economic expectations for the euro area therefore remain fairly positive. The positive economic outlook for Germany and the euro area is reflected in the fact that inflation expectations are rising. Around two thirds of the survey participants expect the German inflation rate and the entire euro area to increase in the next six months.

At 16:00 GMT the FxWirePro's Hourly Strength Index of Euro was highly bearish at -116.271, while the FxWirePro's Hourly Strength Index of US Dollar was slightly bullish at 77.5799. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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