Disappointing ZEW Economic Sentiment figures

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Tuesday, May 19 2015

The ZEW Indicator of Economic Sentiment for Germany declined in May 2015. Decreasing by 11.4 points compared to the previous month, the index now stands at 41.9 points, well below predicted figure of 48.8.

"Financial market experts have adjusted their optimistic expectations downward in May due to unexpectedly poor growth figures in the first quarter of 2015 and turmoil on the stock and bond markets. However, only a small number of survey participants actually expect a deterioration of the economic situation," says ZEW President Professor Clemens Fuest.

ZEW's Indicator of Economic Sentiment for the Eurozone has decreased by 3.6 points to a reading of 61.2 points. Analysts were predicting smaller decrease to 62.8. Gaining 11.8 points in May 2015, the indicator for the current situation in the euro area has reached a value of minus 16.5 points.

However, data did not have major impact on the markets with euro falling below 1.12 handle as ECB's Coeure said short-term rate below zero doesn't pose policy problem. He even added that deposit rate can in theory be even more negative. He also announced that ECB will front-load QE in May or June for seasonal reasons and will accelerate QE now before summer market lull.

More in this category: « UK CPI fell to deflation area first time ever Building Permits rose more than expected »

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