Eurozone ZEW Economic Sentiment
Event Date: Tuesday, March 21, 2023
Event Time: 10:00 CET
Sentiment to Soften Again in March
Updated Sunday, March 19, 2023
The economic sentiment turned negative in the Eurozone in 2018 as the trade war was escalating and the global economy weakening and it has been like that since then, bottoming at -43 points in August last year. Since August, the sentiment has improved and in December it turned positive, coming at 11.2 points, beating expectations. German ZEW sentiment has also turned positive, so the trend points to optimism. But, the outbreak of coronavirus in China hurt the sentiment, as the Eurozone ZEW investor confidence fell to 10.4 points from 25.6 and last month it made a major decline, falling to the lowest levels since November 2011, at -49.5 points. it improved in the following months, but fell to exactly the same number in March due to the global house arrest. It improved in the last two months and as of may this indicator stands at 46 points, which is a little strange since May was almost entirely closed as well. But, it kept increasing to 64.0 points until August. It improved further in September and October but dipped in November due to the new restrictions in the Eurozone. In December 2020 we saw a jump due to the vaccine news, but the economy is slowing again and with the new lockdowns we should have seen another dip in January, but we saw a sudden jump to 58.3 points while German sentiment jumped above 61 points. This year the sentiment has improved further' standing at 84 points in May, while for June it cooled to 81.3 points. ZEW sentiment was expected to cool further to 79 points in July, but tumbled to 61.2 points. In August it softened further, to 40.4 points, in July to 31.1 while in October it fell to 21 points. But since then it has been improving to 28.1 points as of February 2023, but it is expected to slow to 14.9 points this month. Please follow us for real-time coverage of this event by experienced analysts.
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About Eurozone ZEW Economic Sentiment
Level of a diffusion index based on surveyed German institutional investors and analysts. Released monthly, on the second or third Tuesday of the current month. It's a leading indicator of economic health - investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity. Survey of about 275 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone.
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