Germany's Economic Morale Improves Below Expectations

Germany's economic morale this month improved less than expected, according to data released on Tuesday.

The ZEW Indicator of Economic Sentiment for Germany this month rose slightly by 0.4 points month-on-month to 47.5 in June, the highest since February 2022.

In contrast, the assessment of the economic situation in Germany has deteriorated by 1.5 points from May to minus 73.8 points in June.

"These developments must be interpreted in the context of a constant situation indicator for the eurozone as a whole," said Achim Wambach, ZEW's head.

The ZEW indicator of economic sentiment for the euro area gained 4.3 points to 51.3 in June while the sub-index for the current economic situation for the single zone remained stable at minus 38.6 points. -