Contrastingly, the assessment of the current economic situation in Germany tells a different story. The corresponding indicator saw a significant decline, dropping 4.4 points to reach a level of minus 81.7 points.
Furthermore, the sentiment towards the economic development of the eurozone has also shown improvement in the February survey. The indicator marking financial market experts' outlook on the eurozone's economic development climbed to 25 points, marking a 2.3-point rise compared to the previous month.
In addition, the situation indicator for the eurozone, which assesses the current economic environment, experienced a notable increase. It advanced 5.9 points, settling at minus 53.4 points.
“The German economy is in a bad place. The assessment of the current economic situation by the respondents has deteriorated to the lowest level since June 2020. In contrast, economic expectations for Germany have improved again. Accordingly, more than two-thirds of the respondents expect the ECB to make interest rate cuts over the next six months in light of falling inflation rates. Almost three-quarters of respondents expect imminent interest rate cuts by the American central bank,” ZEW president professor Achim Wambach.
ALCHEMPro News Desk (DP)
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