The economic sentiment indicator in Germany came in at negative 8.5 points in June, improving from May's negative 10.7 and surpassing expectations, the Centre for European Economic Research (ZEW) revealed in its survey published on Tuesday. On the other hand, the current situation indicator sank to negative 56.5 points, worsening from the previous month's negative 34.8 and landing significantly below predictions.
Meanwhile, the economic sentiment indicator for the Eurozone went down from May's negative 9.4 points to negative 10.0 points in June. The current situation indicator also worsened, declining from the previous month's negative 27.5 points to negative 41.9 points.
"This means that experts do not anticipate an improvement in the economic situation during the second half of the year. Particularly, sectors focused on exports are likely to perform poorly due to a weak global economy. However, the current recession is generally not considered particularly alarming," ZEW President Professor Achim Wambach said.
