ZEW: German economic sentiment sharply declines in April

Economy 4/17/2018, 11:09 AM
ZEW: German economic sentiment sharply declines in April

German economic sentiment declined in April, going 8.2 in the negative territory compared to previous month's figure which stood at 5.1, the Centre for European Economic Research (ZEW) said on Tuesday. Meanwhile, the indicator for the economic sentiment for the Eurozone stood at 1.9, falling 11.5 points compared to March.

Current situation assessment in Germany decreased 2.8 points, compared to one month before, amounting to 87.9 points, while the euro area assessment of current situation was up 1.5 points and stood at 57.7 points.

"The reasons for this downturn in expectations can mainly be found in the international trade conflict with the United States and the current situation in the Syrian war. The significant decline in production, exports and retail sales in Germany in the first quarter of 2018 is also having a negative effect on the future economic development," ZEW President Professor Achim Wambach said.

Breaking the News / BM

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