ZEW: German Economic Sentiment Showed Slight Fall In May
The economic sentiments of Germany remained practically unchanged in May. The ZEW survey showed that the sentiment index in the business environment was stable at the level of -8.2 points in May, the lowest since the end of 2012. Analysts had expected the index to improve slightly to -8.0 points. A level above 0.0 indicates optimism, a level below 0.0 indicates pessimism. The Current Conditions Index fell to 87.4 from 87.9 in April, but still better than expectations for a reading of 86.2.
Meanwhile, today’s data also showed that Eurozone ZEW Economic Sentiment rose by 0.5 points to 2.4 in May. Meanwhile, the index of the current situation decreased by 1.6 points to 56.1. German GDP rose 0.3% qoq, 2.3% yoy in Q1, below expectation of 0.4% qoq, 2.4% yoy. That’s also notably slower than Q4’s 0.6% qoq, 2.9% yoy.