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Economic Sentiment Revives in Germany
Financial experts in Germany have turned more optimistic about the country’s economy, according to the closely watched ZEW Indicator of Economic Sentiment.
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Financial experts in Germany have turned more optimistic about the country’s economy, according to the closely watched ZEW Indicator of Economic Sentiment.
The U.K.’s vote in June to exit the EU caused ZEW’s index to plunge 26 points to a 44-month low of minus 6.8 in July. The indicator regained 7.3 this month to move half a point into positive territory. The index was above 50 at the beginning of last year.
A separate ZEW index of confidence in the future of the eurozone’s economy jumped 19.3 points in August to 4.6, partially reversing a nearly 40-point dive in July.
Economic research center says the uptick reflects partial recovery from the Brexit shock. But the group cautions that lingering worries political risks in the region, and the resiliency of the EU banking sector, will continue to mute the economic outlook.
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