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Financial News: German ZEW Economic Sentiment Improves In March

German ZEW Economic Sentiment Improves In March

03/16/2021 - 06:30:00 (RTTNews)

(RTTNews) - German economic confidence improved in March, survey data from the ZEW - Leibniz Centre for European Economic Research showed on Tuesday.

The ZEW Indicator of Economic Sentiment rose 5.4 points to 76.6 points in March. The reading was above economists' forecast of 74.0.

The current economic situation index climbed 6.2 points to -61.0 in March. The expected level was -62.0.

"Economic optimism continues to rise," ZEW President Achim Wambach said. "Experts expect a broad-based recovery of the German economy. They anticipate that at least 70 percent of the German population will be offered a vaccine against Covid-19 by autumn," Wambach added.

Sentiment regarding the economic development of the Eurozone also increased further in March. The corresponding index gained 4.4 points to 74.0.

The indicator for the current economic situation climbed 4.8 points to minus 69.8 points in March.

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