Germany May ZEW survey current situation -93.5 vs -86.0 expected

Latest data released by ZEW – 19 May 2020

  • Prior -91.5
  • Expectations 51.0 vs 30.0 expected
  • Prior 28.2
  • Eurozone expectations 46.0
  • Prior 25.2
Despite the headline reading slipping a little bit more – reflecting more subdued economic conditions – optimism is actually growing that there will be an economic turnaround in Germany and Europe from the summer onwards.
ZEW notes the significant improvement in expectations for most sectors of the economy as growth is expected to pick up pace again starting from Q4 2020.
That said, ZEW reaffirms that any return in economic output back to pre-coronavirus levels will take a long time and is only seen around 2022 at this stage.