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Financial News: German Economic Confidence Remains Stable

German Economic Confidence Remains Stable

05/15/2018 - 05:50:00 (RTTNews)

(RTTNews) - Germany's economic sentiment remained unchanged in May, survey data from the Mannheim-based think tank ZEW showed Tuesday.

The ZEW Indicator of Economic Sentiment held steady at -8.2 in May, the lowest since late 2012. The score also matched economists' expectations.

"The effects of the relatively positive values for German exports and production in March 2018 have been overshadowed in the most recent survey by uncertainty motivated by recent political events," ZEW President Achim Wambach, said.

"The US decision to back out of the nuclear treaty with Iran and fears of a further escalation of the international trade conflict with the US, as well as a further rise of crude oil prices, have had an overall negative impact on economic expectations in Germany," Wambach added.

The current situation index dropped to 87.4 in May from 87.9 a month ago.

The economic sentiment index for euro area rose 0.5 points to 2.4 in May. Meanwhile, the current situation index declined 1.6 points to 56.1.

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