Economic outlook remains steady at a peak level, according to ZEW.
The latest evaluation of Germany's current economic situation took a minor dip by 1.5 points to -73.8 points. This decline is thought to be caused by a spike in inflation rate in May that surpassed general estimations, as explained by ZEW President Achim Wambach. The inflation rate in comparison to the previous year was 2.6%.
The economic assessment from experts and professionals in the Eurozone was more straightforward: it climbed by 4.3 points to now 51.3 points. The evaluation of the current economic situation in the Eurozone remains constant at -38.6 points.
The ZEW reaches out to experts and professionals from banks, insurance companies, and financial departments of large companies on a monthly basis to gather their assessments of key international financial market data. These assessments offer insights into the potential future development of the economy. Data collected includes inflation rates, interest rates, stock indices, exchange rates, and oil prices. The ZEW Index is considered a significant predictor for Germany's future economic growth.
In the June survey, which ran from the 10th to the 17th, 154 analysts, investors, and institutional investors took part in the survey, as per ZEW.
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The steady economic outlook at a peak level, as mentioned by ZEW, is a significant indicator for Germany's future growth, as noted by the ZEW Index. This assessment contradicts the minor dip in Germany's current economic situation, which can be attributed to the higher than expected inflation rate, as explained by ZEW President Achim Wambach in Mannheim. The ZEW collects economic data from experts in the Eurozone as well, including Germany, on a monthly basis in cities like Mannheim.
