German economic sentiment improves in April 2023: ZEW

Despite the uptick in sentiment regarding future economic prospects, the current assessment of Germany's economic situation remained largely stable with only a minor improvement. The indicator for the present economic situation edged up by 1.3 points, settling at minus 79.2 points.

Similarly, economic sentiment towards the eurozone witnessed a notable increase in April. The eurozone economic sentiment indicator rose by 10.4 points to 43.9, reflecting growing optimism among financial market experts about the region's economic development. Additionally, the current economic situation in the eurozone showed signs of improvement, with the indicator increasing by 6 points to a new level of minus 48.8 points, as per ZEW.

“A recovering global economy is boosting expectations for Germany, with half of the respondents anticipating the country’s economy to pick up over the next six months. Further contributing to the heightened optimism are the much improved assessments of the situation and economic expectations in Germany’s export destinations. This is reflected, among other things, in the expected appreciation of the US dollar against the euro,” said ZEW president Professor Achim Wambach.

Fibre2Fashion News Desk (DP)