German ZEW economic sentiment rebounds to 3.1 in April, a big beat

The German ZEW headline numbers for April showed that the economic sentiment index jumped to 3.1 versus 0.8 expectations and -3.6 last. While the sub-index current conditions figure declined sharply to 5.5 versus 8.0 expected and 11.1 booked previously, missing market expectations.

ZEW President Professor Achim Wambach noted: “The slight improvement recorded by the ZEW Indicator of Economic Sentiment is largely based on the hope that the global economic environment will develop less poorly than previously assumed. The postponement of the Brexit deadline may also have contributed to buoy the economic outlook. By contrast, the latest figures regarding incoming orders and industrial production in the German industry point to a rather weak economic development.”

About German ZEW

These numbers are derived via a survey of about 300 German institutional investors and analysts, conducted by the Zentrum für Europäische Wirtschaftsforschung (ZEW), which asks respondents to rate the relative 6-month economic outlook for Germany. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).

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