German economic confidence improved only marginally in June, survey data from the ZEW – Leibniz Centre for European Economic Research showed on Tuesday.
According to the German Press Agency (dpa), the ZEW Indicator of Economic Sentiment rose slightly to 47.5 in June from 47.1 in the previous month. The reading remained below the forecast of 50. Assessment of the current situation deteriorated in June with the index falling to -73.8 from -72.3 last month.
“Both the sentiment and the situation indicators are stagnating,” ZEW President Achim Wambach said.
“These developments must be interpreted in the context of a constant situation indicator for the eurozone as a whole,” he added.
Wambach observed that respondents had higher inflation expectations, likely related to the inflation rate in May, which was higher than anticipated.
Experts’ sentiment concerning the economic development of the eurozone strengthened marginally in June. The corresponding index advanced 4.3 points to 51.3 this month.
At the same t
ime, the current situation index held steady at 38.6, data showed. Official data today confirmed that the eurozone inflation accelerated to 2.6 percent in May from 2.4 percent rise in April, driven by services costs.
Source: Emirates News Agency
