Damped Optimism

ZEW Indicator of Economic Sentiment

Mannheim, (PresseBox) - .
- ZEW Indicator of Economic Sentiment for Germany
43.2 points (-3.4 vs. last month)
- ZEW Indicator of Economic Sentiment for the Eurozone
61.2 points (-0.3 vs. last month)
- Assessment of the current situation in Germany
59.5 points (+8.2 vs. last month)
- Assessment of the current situation in the Eurozone
-30.5 points (+6.2 vs. last month)

Economic Expectations for Germany have slightly declined in April 2014. The ZEW Indicator of Economic Sentiment has decreased by 3.4 points and now stands at a still considerable level of 43.2 points (historical average: 24.6 points).

The cautious expectations in this month's survey are likely to be caused by the Ukraine conflict, which still creates uncertainty. Furthermore, the slight decline in economic expectations has taken place against the backdrop of a very positive evaluation of the current economic situation in Germany. The indicator reflecting the experts'

assessment of the current economic situation for Germany has gained remarkable 8.2 points in April, reaching a level of 59.5 points. This is the indicator's highest level since July 2011. This very positive assessment of the economic situation may also explain to some extend why a part of the surveyed experts have slightly lowered their expectations for the next six months - in their view the German economy is already growing at a considerable pace.

Economic expectations for the Eurozone have slightly decreased in the current survey. The respective indicator has declined by 0.3 points and now stands at a level of 61.2 points. The indicator for the current economic situation in the Eurozone has improved by 6.2 points to a level of minus 30.5 points.

238 analysts and institutional investors participated in this month's ZEW Financial Markets Survey which is conducted on a monthly basis by the Centre for European Economic Research (ZEW), Mannheim. The participants were asked from March 31st to April 14th, 2014 about their medium-term expectations concerning economic activity and capital markets. The ZEW Indicator of Economic Sentiment shows the balance between positive and negative expectations regarding future economic activity in Germany within a timeframe of six months. The horizontal line indicates the historical mean of the indicator.

Zentrum für Europäische Wirtschaftsforschung GmbH (ZEW)

ZEW is one of Germany's leading economic research institutes and enjoys a strong reputation throughout Europe. ZEW has distinguished itself by analysing internationally comparative issues in the European context and creating data bases important for scientific research, e.g. Mannheim Innovation Panel (MIP), ZEW Start-Up Panel. ZEW's key objectives are conducting economic research, providing economic policy advising and transferring knowledge. ZEW was founded in 1990 and currently employs a staff of 180, of which two thirds are researchers.

Research at ZEW:

International Finance and Financial Management; Labour Markets, Human Resources and Social Policy; Industrial Economics and International Management; Corporate Taxation and Public Finance; Environmental and Resource Economics, Environmental Management; Information and Communication Technologies; Competition and Regulation, International Distribution and Redistribution.

www.zew.de / www.zew.eu

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