Germany's economic sentiment up at 28.1 points in Feb 2023: ZEW

The corresponding indicator currently stands at minus 45.1 points, 13.5 points higher than in the previous month. This is the fourth increase in a row. Nevertheless, this indicator is still far in negative territory, ZEW said in a media release.

“Meanwhile a large fraction of the survey participants expects the economic situation to improve in six months’ time. However, the current situation is still assessed as relatively unfavourable. As in the previous month, the increase in expectations can be traced back to higher profit expectations in the energy- and export-oriented sectors as well as the consumer-related parts of the economy. Expectations for long-term interest rates are also rising and the banking sector indicator has reached its highest level since 2004,” commented ZEW president professor Achim Wambach on current expectations.

The financial market experts’ sentiment concerning the economic development of the eurozone also improved considerably in February. The indicator climbed 13.0 points to a current level of 29.7 points. The situation indicator increased by 13.2 points to a new level of minus 41.6 points. Inflation expectations in the eurozone remained almost constant at a level of minus 83.4 points.

ALCHEMPro News Desk (NB)