Germanys economic confidence improved in May but remained at a very low level as the economy is expected to continue to deteriorate in the near-term in the face of the war in Ukraine and the coronavirus restrictions in China, survey results from the ZEW – Leibniz Centre for European Economic Research showed on Tuesday. The ZEW Indicator of Economic Sentiment unexpectedly rose to -34.3 in May from -41.0 in April. Meanwhile, the current situation indicator fell by 5.7 points -36.5 in May. This was the third consecutive decline since the beginning of the war in Ukraine. Powered by Commodity Insights
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