Commerzbank Corporates & Markets
Economic Research
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Economic Briefing
ZEW: Poor data cause concern among analysts
The ZEW Index for economic expectations in Germany tumbled from 48.5 to 36.3 in April, which was a stronger fall than expected by most analysts. The camp of economic optimists has clearly shrunk. This was probably caused by the decline in sentiment indicators in March and the poor data from German industry. Even so, we still expect the German economy to pick up considerably in the coming months. This is likely to be confirmed by the purchasing managers’ index and the Ifo business climate – due next week – that should recover from March-setbacks.
Analyst:
Ulrike Rondorf
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