German Economic Expectations Rise Strongly in May, ZEW Survey Says
11 May 2021 - 10:42AM
Dow Jones News
By Maria Martinez
German economic expectations improved significantly in May,
reaching its highest value in more than 20 years, the ZEW economic
research institute said Tuesday.
The measure of economic expectations rose to 84.4 in May from
70.7 in April, the institute said. The outcome is above economists'
forecast of 71.0 points, taken from a survey by The Wall Street
Journal.
This is the highest value so far since the beginning of the
pandemic, the ZEW institute said.
"The slowing down of the third COVID-19 wave has made financial
market experts even more optimistic," Achim Wambach, president of
the ZEW institute, said.
The assessment of the current economic situation in Germany also
improved to minus 40.1 in May from minus 48.8 in April, the ZEW
institute said. The reading compares with economists' forecast of
minus 43.0 points.
Mr. Wambach said experts expect a significant economic upswing
in the coming six months.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
May 11, 2021 05:27 ET (09:27 GMT)
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