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The assessment of the economic situation in Germany has deteriorated marginally. The corresponding indicator currently stands at -46.5 points, 1.4 points lower than in the previous month, according to ZEW’s March 2023 survey.
“The international financial markets are under strong pressure. This high level of uncertainty is also reflected in the ZEW 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,” commented ZEW president professor Achim Wambach on current expectations.
The financial market experts’ sentiment concerning the economic development of the eurozone also worsened considerably in March, dropping 19.7 points to a current reading of 10.0 points. The situation indicator currently stands at -44.6 points, 3.0 points below the previous month’s value.
Fibre2Fashion News Desk (NB)