German ZEW Economic Sentiment Rises Less Than Expected
German economic sentiment improved less-than-expected in March as the financial experts' assessment of the current economic situation continued to worsen, survey results from the ZEW-Centre for European Economic Research showed Tuesday.
The Indicator of Economic Sentiment rose to 4.3 from 1 in February, the Mannheim-based ZEW said. Economists had forecast a score of 5.4. In December, the reading was 16.1.
The current conditions index of the survey dropped to 50.7 from 52.3. Economists were looking for a 53 reading.
"The uncertainty associated with the future economic development of important emerging economies, with the development of the oil price and with the external value of the euro continues to call for caution," Sascha Steffen, head of the ZEW Research Department, said.
"Apparently, the renewed move of the ECB to considerably ease its monetary policy has not had a substantial effect on economic sentiment."
The economic sentiment index for Eurozone shed three points to reach 10.6 in March. The current conditions index dropped 3.8 points to touch minus 11.8 points.
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