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Mr. Wong
The ZEW Indicator of Economic Sentiment for Germany increased slightly in March 2009. The indicator rose by 2.3 points and now stands at minus 3.5 points after minus 5.8 points in the previous month. This is still well below its historical average of 26.2 points.
The indicator’s upward movement, which was very dynamic during the last four months, slowed down in March. However, the impression strengthens that the experts are more hopeful with respect to the economic development in Germany on a six months time horizon. The renewed interest rate cut by the ECB und lower prices for raw materials and food may explain the experts’ more optimistic view.
"According to the financial market experts, the economic slowdown is gradually phasing out. The bottom of the recession is likely to be reached this summer. The economic situation is extremely bad, but there are first signs of hope. They should not be played down", says ZEW President Prof. Dr. Dr. h.c. mult. Wolfgang Franz.
The assessment of the current economic situation in Germany stabilised in March. The corresponding indicator dropped slightly by 3.2 points to minus 89.4 points.
Economic expectations for the eurozone increased in March by 2.2 points. The respective indicator now stands at minus 6.5 points. The indicator for the current economic situation in the eurozone rose by 0.3 points to minus 90.7 points.
Dr. Sandra Schmidt, E-mail: s.schmidt@zew.de
Matthias Köhler, E-mail: koehler@zew.de
ZEW-Financial Market Survey March 2009 - Results