Germany's economic sentiment shows minimal change in June 2024: ZEW

The indicator of economic sentiment for Germany showed minimal change in June 2024, standing at 47.5 points, a slight increase of 0.4 points from May, according to research institute ZEW. However, the assessment of Germany's economic situation saw a slight decline, with the corresponding indicator dropping by 1.5 points to a new value of minus 73.8 points.

Meanwhile, financial market experts' sentiment regarding the economic development of the eurozone experienced a modest rise in June. The eurozone's economic sentiment indicator increased by 4.3 points, reaching 51.3 points compared to May. Despite this positive shift in sentiment, the situation indicator for the eurozone remained unchanged at minus 38.6 points.

“Both the sentiment and the situation indicators stagnate. These developments must be interpreted in the context of a constant situation indicator for the eurozone as a whole. In contrast, the inflation expectations of the respondents increase, which is likely related to the inflation rate in May, which turned out higher than what was expected,” said ZEW president professor Achim Wambach.

ALCHEMPro News Desk (DP)