Financial News: German Economic Confidence Strengthens On Recovery Hopes

German Economic Confidence Strengthens On Recovery Hopes

04/16/2024 - 06:43:00 (RTTNews)

(RTTNews) - Germany's economic confidence strengthened more-than-expected to hit the highest in more than two years in April as investors anticipate the economy to pick up over the coming months amid the global recovery, survey results from the think tank ZEW showed on Tuesday.

The ZEW Indicator of Economic Sentiment surged to 42.9 in April from 31.7 in the previous month. The reading was seen at 35.1.

Meanwhile, the current situation index gained only 1.3 points to -79.2 in April.

ZEW President Achim Wambach said half of the survey respondents expect the German economy to pick up over the next six months amid the recovering global economy.

Improvement in assessments of the situation and economic expectations in Germany's export destinations contributed to the heightened optimism, Wambach added.

"This is reflected, among other things, in the expected appreciation of the US dollar against the euro," Wambach said.

Sentiment among financial market experts concerning the economic development in the euro area also improved considerably in April. The corresponding index climbed 10.4 points to 43.9 in April.

At the same time, the current situation index for the Eurozone advanced 6.0 points to -48.8.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German Inflation Steady At 2.2% (05 hr(s), 17 min(s), 10 sec(s) ago)
(RTTNews) - Germany's consumer prices logged a steady pace of increase in April reflecting the ...Full Story»

Eurozone Economic Confidence Weakens In April (06 hr(s), 13 min(s), 10 sec(s) ago)
(RTTNews) - Euro area economic sentiment deteriorated further in April largely reflecting the diff ...Full Story»

Turkey's Economic Confidence Falls To 99.0 (06 hr(s), 29 min(s), 10 sec(s) ago)
(RTTNews) - Turkey's economic sentiment weakened in April from a nine-month high in the previo ...Full Story»

Belgium GDP Growth Stable At 0.3% (07 hr(s), 29 min(s), 10 sec(s) ago)
(RTTNews) - Belgium's economy expanded at a steady rate in the first quarter of 2024, prelimin ...Full Story»

German Companies' Price Expectations Rise Slightly - Ifo (09 hr(s), 21 min(s), 10 sec(s) ago)
(RTTNews) - More companies in Germany plan to raise prices in April and inflation is likely to rem ...Full Story»

Finland Consumers More Gloomy In April, Business Morale Weakens (09 hr(s), 33 min(s), 10 sec(s) ago)
(RTTNews) - Finland's consumers expressed a more pessimistic approach in April, survey figures ...Full Story»

Spain Inflation Rises To 3.3%, Less Than Forecast (10 hr(s), 30 min(s), 10 sec(s) ago)
(RTTNews) - Spain's consumer price inflation rose less than expected in April to the highest l ...Full Story»

Swedish Economy Contracts Further (11 hr(s), 22 min(s), 10 sec(s) ago)
(RTTNews) - Sweden's economy shrank for the fourth consecutive quarter in the three months e ...Full Story»