Ekonomické zprávy
21.03.2023

German business sentiment deteriorated sharply in March - ZEW

Data published by the Leibniz Centre for European Economic Research (ZEW) showed that the indicator of German economic sentiment declined significantly in March, breaking a 5-month rise.

According to the report, the indicator of economic sentiment fell to 13.0 points compared to 28.1 points in February. Consensus estimates suggested a decrease to 17.1 points. Meanwhile, the index of the current economic situation fell to -46.5 points from -45.1 points in February. This was the first decline in five months.

"The international financial markets are under strong pressure. This high level of uncertainty is also reflected in the indicator of economic sentiment. The assessment of the earnings development of banks has deteriorated considerably, although it still remains slightly positive. The estimates for the insurance industry have also declined significantly,” - said ZEW President Professor Achim Wambach.

The data also showed that the indicator of economic sentiment in the eurozone fell to 10.0 points from 29.7 points in February. Economists had expected a decline to 16.0 points. This was the first drop in sentiment after five consecutive months of increases, amid heightened uncertainty about the economic outlook caused by the recent turmoil in the financial system. The indicator of the current economic situation fell to -44.6 from -41.6 in February, while the inflation expectations index rose to -80.3 points from -83.4 points.

Podívejte se také