The ZEW Indicator of Economic Sentiment Stands at 13.0 Points
The ZEW Indicator of Economic Sentiment for Germany recorded a sharp decline in the current March 2023 survey. At 13.0 points, it is 15.1 points below the previous month’s value. However, the expectations are still in positive territory. The assessment of the economic situation in Germany has deteriorated marginally. The corresponding indicator currently stands at minus 46.5 points, 1.4 points lower than in the previous month.
“The international financial markets are under strong pressure. This high level of uncertainty is also reflected in the ZEW Indicator of Economic Sentiment. The assessment of the earnings development of banks has deteriorated considerably, although it still remains slightly positive. The estimates for the insurance industry have also declined significantly,” comments ZEW President Professor Achim Wambach on current expectations.
The financial market experts’ sentiment concerning the economic development of the eurozone also worsened considerably in March, dropping 19.7 points to a current reading of 10.0 points. The situation indicator currently stands at minus 44.6 points, 3.0 points below the previous month’s value.