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Financial News: Germany's Economic Sentiment Weakens Sharply In April

Germany's Economic Sentiment Weakens Sharply In April

04/17/2018 - 05:44:00 (RTTNews)

(RTTNews) - German economic confidence declined sharply in April, survey data from the Mannheim-based think tank ZEW showed Tuesday.

The ZEW Indicator of Economic Sentiment dropped to -8.2 in April from +5.1 in March. The score was forecast to fall to -1.

"The reasons for this downturn in expectations can mainly be found in the international trade conflict with the United States and the current situation in the Syrian war," ZEW President Achim Wambach, said.

The significant decline in production, exports and retail sales in Germany in the first quarter of 2018 is also having a negative effect on the future economic development," Wambach added.

The current conditions index fell by 2.8 points to 87.9 in April, versus expected score of 88.

In the euro area, the economic sentiment indicator slid 11.5 points to 1.9 in April. The indicator for the current economic situation came in at 57.7 points, up by 1.5 points compared with March.

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