“There is growing confidence that the economy will bottom out by summer 2020. This is reflected in the renewed rise of the ZEW Indicator of Economic Sentiment as well as the more optimistic assessment of the current situation. The expected earnings for the individual sectors in Germany still vary greatly. Earnings expectations are strongly negative for export-oriented sectors such as automotive and mechanical engineering, as well as the financial sector. In contrast, forecasts are fairly positive for information technologies, telecommunications and consumer-oriented services. The financial market experts continue to expect only a slow increase in economic value added in the third and fourth quarters,” comments ZEW President Professor Achim Wambach.
Financial market experts’ sentiment concerning the economic development of the eurozone also improved once again, with the corresponding indicator climbing 12.6 points to a current level of 58.6 points compared to the previous month. The indicator for the current economic situation in the eurozone climbed 5.4 points to a level of minus 89.6 points.