“The decline in the ZEW Indicator of Economic Sentiment shows that the financial market experts continue to expect restrained economic growth in Germany for the next six months. The most recent escalation in the trade dispute between the USA and China again increases the uncertainty regarding German exports – a key factor for the growth of the gross domestic product,” comments ZEW President Professor Achim Wambach.
The financial market experts’ sentiment concerning the economic development of the eurozone also experienced a drop. The corresponding indicator currently stands at minus 1.6 points, 6.1 points below the reading from the previous month. By contrast, the indicator for the current economic situation in the eurozone climbed 6.2 points to a level of minus 7.0 points in May. The economic outlook for the eurozone therefore also remains rather subdued.