German ZEW Economic Sentiment rose from 15.2 to 19.9 in February, above expectation of 17.5. Current Situation Index, however, fell from -77.3 to -79.0, below expectation of -81.7.
Eurozone ZEW Economic Sentiment rose from 22.7 to 25.0, above expectation of 20.1. Current Situation Index increased 5.9 to -53.4.
ZEW President Achim Wambach said: “The German economy is in a bad place. The assessment of the current economic situation by the respondents has deteriorated to the lowest level since June 2020. In contrast, economic expectations for Germany have improved again.”
“Accordingly, more than two-thirds of the respondents expect the ECB to make interest rate cuts over the next six months in light of falling inflation rates. Almost three-quarters of respondents expect imminent interest rate cuts by the American central bank.”
Full German ZEW release here.
