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Meanwhile, the assessment of the current economic situation remains stable, with a slight 0.9-point increase to negative 87.6 points, as per the ZEW Indicator of Economic Sentiment for Germany.
“Economic expectations are improving considerably again in March, with a strongly increasing sentiment. The brighter mood is likely due to positive signals regarding the future German fiscal policy, for example the agreement on the multi-billion-euro financial package for the federal budget. In particular, prospects for metal and steel manufacturers as well as the mechanical engineering sector have improved. Last but not least, the sixth consecutive interest rate cut by the European Central Bank (ECB) means favourable financing conditions for private households and companies,” said Achim Wambach, president at ZEW.
The financial market experts’ sentiment concerning the economic development in the eurozone is also strongly on the rise. The indicator is up by 15.6 points and currently at 39.8 points. The assessment of the current economic situation in the monetary union remains quite stable. At negative 45.2 points it is 0.1 points above the February reading, ZEW said in a press release.
Fibre2Fashion News Desk (SG)