The economic sentiment indicator for Germany demonstrated notable growth in April 2024, reflecting a significant increase from the values reported in the previous month, according to the latest survey by ZEW. The indicator, which measures the optimism that financial market experts have about the expected economic development over the next six months, climbed 11.2 points to reach 42.9.

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)

Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.