After a sharp decline last month, the ZEW Indicator of Economic Sentiment for Germany moved sideways in May 2013. The indicator gained 0.1 points compared to the previous month and is now hovering at the 36.4-points mark.
"Despite mostly positive economic data for the German economy, the ZEW Indicator remains at the level of the previous month. This may be due to the still poor economic situation in the eurozone, that is also reflected by the recent ECB interest rate cut", says ZEW President Prof. Dr. Clemens Fuest. The assessment of the current economic situation for Germany declined only marginally in May. The respective indicator fell by 0.3 points and now stands at the 8.9-points mark.
Economic expectations for the eurozone slightly increased in May. The respective indicator improved by 2.7 points to 27.6 points. The indicator for the current economic situation in the Eurozone remains almost unchanged at the minus 76.8 points-mark (down 0.8 points).
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