German economic confidence fell significantly in April, as high inflation and tight monetary policy weighed on output.
The ZEW Indicator of Economic Sentiment plummeted substantially in April, from 13.0 in March to 4.1 in April. The score was expected to rise to 15.3.
The score indicated that there will be no major improvement in the economy during the next six months.
Meanwhile, the present situation index increased from -46.5 in March to -32.5 in April. The reading was expected to rise to -40.0.
“Despite the improvement, the economic situation is still considered relatively negative,” according to the Mannheim-based think group.
Source: RTT NEWS
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