ZEW indicator of economic sentiment in Germany continues recovery
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E-mail Xinhua, May 19, 2020
BERLIN, May 19 (Xinhua) -- The ZEW indicator of economic sentiment for Germany stood at 51.0 points in May, up by 22.8 points from the previous month, according to the monthly expert survey published by the Leibniz Centre for European Economic Research (ZEW) on Tuesday.
After a record slump in March due to the coronavirus crisis, the indicator rose for the second month in a row.
The financial market experts surveyed were expecting economic growth in Germany "to pick up the pace again" in the fourth quarter of 2020, ZEW noted.
"Optimism is growing that there will be an economic turnaround from summer onwards," said ZEW president Achim Wambach.
"However, the catching-up process will take a long time," stressed Wambach. Only in 2022 economic output would return to the level of 2019.
Regarding the eurozone, the experts' sentiment of economic development also saw a considerable increase, with the indicator climbing to 46.0 points in May, 20.8 points higher than the previous month, according to the survey. Enditem
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