German ZEW Economic Sentiment Falls Unexpectedly In April
13 April 2021 - 6:25PM
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German economic sentiment deteriorated unexpectedly in April
amid the third wave of infections, survey results from the ZEW -
Leibniz Centre for European Economic Research showed on Tuesday.
The ZEW Indicator of Economic Sentiment fell 5.9 points to 70.7
points from 76.6 in March, while the score was forecast to climb to
79.0. This was the first time that the indicator has experienced a
drop since November 2020.
However, expectations are still at a very high level, the agency
said.
Meanwhile, the assessment of the economic situation advanced
12.2 points to minus 48.8 points. The expected reading was minus
53.0.
The financial market experts are somewhat less euphoric than in
the previous month, ZEW President Achim Wambach, said.
Fears of a stricter lockdown have led to a decline in
expectations for private consumption, Wambach noted. Nevertheless,
the outlook for exports is better than in the previous month.
Economic confidence in the euro area also weakened in April. The
corresponding index declined 7.7 points to 66.3. By contrast, the
indicator for the current economic situation climbed 4.3 points to
a level of minus 65.5 points.
The survey showed that inflation expectations for the Eurozone
dropped 5.5 points to 75.1 points. The corresponding indicator
still points to an increase in inflation over the next six
months.
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