Ekonomické zprávy

German business sentiment improved significantly in February - ZEW

Data published by the Leibniz Centre for European Economic Research (ZEW) showed that the indicator of German economic sentiment rose significantly in February, exceeding economists' forecasts and reaching the highest level in a year.

According to the report, the indicator of economic sentiment rose to 28.1 points (highest reading since February 2022) compared to 16.9 points in January. Consensus estimates suggested an increase to 22.0 points. Investor sentiment improved for a fifth consecutive month, helped by higher profit expectations in the energy- and export-oriented sectors as well as the consumer-related parts of the economy. Meanwhile, the index of the current economic situation increased to -45.1 points (the highest level since last June) from -58.6 points in January. This is the fourth increase in a row.

"Meanwhile a large fraction of the survey participants expects the economic situation to improve in six months’ time. However, the current situation is still assessed as relatively unfavorable," said ZEW President Professor Achim Wambach.

The data also showed that the indicator of economic sentiment in the eurozone rose to 29.7 points from 16.7 points in January. It was the highest reading since February 2022. Economists had expected an increase to 22.3 points. The indicator of the current economic situation rose to -41.6 from -54.8 in January, while the inflation expectations index remained almost constant at a level of -83.4 points.

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