FOREX TradingCharts.com

Financial News: German ZEW Economic Confidence Improves In May

German ZEW Economic Confidence Improves In May

05/10/2022 - 06:50:00 (RTTNews)

(RTTNews) - Germany's economic confidence improved in May but remained at a very low level as the economy is expected to continue to deteriorate in the near-term in the face of the war in Ukraine and the coronavirus restrictions in China, survey results from the ZEW - Leibniz Centre for European Economic Research showed on Tuesday.

The ZEW Indicator of Economic Sentiment unexpectedly rose to -34.3 in May from -41.0 in April. The reading was forecast to fall to -42.0.

Meanwhile, the current situation indicator fell by 5.7 points -36.5 in May. This was the third consecutive decline since the beginning of the war in Ukraine. The expected reading was -35.0.

The survey suggested that the economy will contract in the second quarter, Jack Allen-Reynolds, an economist at Capital Economics, said.

The ZEW economic expectations as well as the assessment of the situation continued to point to deterioration in the German economy over the next six months.

The financial market experts assessed that the situation will continue to deteriorate, but with less intensity.

The considerable corona restrictions in China lead to a significant deterioration in the assessment of the economic situation there, ZEW President Achim Wambach, said. This is a heavy burden for future economic growth in Germany.

In the current survey, a large majority of the experts expect the ECB to raise short-term interest rates in the next six months, Wambach added.

The experts' expectations of economic development in the euro zone rose sharply by 13.5 to -29.5 points in May. By contrast, the current situation indicator fell to a new value of -35.0 points, down 6.5 points from April.

Inflation expectations for the Euro area dropped 36.5 points to -10.6 points in the current survey.

According to the survey conducted by the behavioral research institute Sentix, investor confidence in Germany declined to a two-year low in May amid fears of recession following the war in Ukraine. The investor confidence index dropped to -20.5 from -17.1 in April.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Hong Kong Exports Recover In April (21 min(s), 58 sec(s) ago)
(RTTNews) - Hong Kong's merchandise exports and imports recovered in April, data from the Cens ...Full Story»

Turkey Economic Confidence Improves In May (27 min(s), 58 sec(s) ago)
(RTTNews) - Turkey's economic confidence improved in May, survey results from the Turkish Stat ...Full Story»

Singapore Industrial Production Rises At Faster Pace (31 min(s), 58 sec(s) ago)
(RTTNews) - Singapore's industrial production increased at a faster pace in April, data from t ...Full Story»

Bank Of Korea Raises Key Rate For Second Straight Time (03 hr(s), 42 min(s), 58 sec(s) ago)
(RTTNews) - The Bank of Korea lifted its key interest rate by a quarter point for the second strai ...Full Story»

European Economics Preview: Italy Business Confidence Data Due (04 hr(s), 42 min(s), 58 sec(s) ago)
(RTTNews) - Business and consumer confidence survey results from Italy are due on Thursday, headli ...Full Story»

South Korea Rate Decision Due On Thursday (44 min(s), 02 sec(s) ago)
(RTTNews) - The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announ ...Full Story»

Fed Minutes Hint At More 50 Basis Point Interest Rate Hikes (15 min(s), 02 sec(s) ago)
(RTTNews) - With inflation remaining stubbornly elevated, the minutes of the Federal Reserve's ...Full Story»

Latvia Unemployment Rate Rises In Q1 (01 min(s), 02 sec(s) ago)
(RTTNews) - Latvia's jobless rate increased in the first quarter, after falling in the previou ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Hong Kong Exports Recover In April

05/26/2022 - 06:54 AM (RTTNews)
(RTTNews) - Hong Kong's merchandise exports and imports recovered in April, data from the Cens ...Full Story>>

Turkey Economic Confidence Improves In May

05/26/2022 - 06:48 AM (RTTNews)
(RTTNews) - Turkey's economic confidence improved in May, survey results from the Turkish Stat ...Full Story>>

Singapore Industrial Production Rises At Faster Pace

05/26/2022 - 06:44 AM (RTTNews)
(RTTNews) - Singapore's industrial production increased at a faster pace in April, data from t ...Full Story>>

Bank Of Korea Raises Key Rate For Second Straight Time

05/26/2022 - 03:33 AM (RTTNews)
(RTTNews) - The Bank of Korea lifted its key interest rate by a quarter point for the second strai ...Full Story>>

European Economics Preview: Italy Business Confidence Data Due

05/26/2022 - 02:33 AM (RTTNews)
(RTTNews) - Business and consumer confidence survey results from Italy are due on Thursday, headli ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.