German business sentiment improves less than expected - ZEW

18th Jun 2024 09:21

(Sharecast News) - German business sentiment improved less than expected in June, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim.

The headline ZEW investor expectations index rose to 47. 5 from 47.1 in May, but this was below expectations for a reading of 50.0.

The current conditions index fell to -73.8 in June from -72.3 the month before.

ZEW President Achim Wambach said: "Both the sentiment and the situation indicators stagnate. These developments must be interpreted in the context of a constant situation indicator for the eurozone as a whole.

"In contrast, the inflation expectations of the respondents increase, which is likely related to the inflation rate in May, which turned out higher than what was expected."