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MNI: GERMAN DATA: ZEW Survey (Jun 2019) Preview -....>

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MNI: GERMAN DATA: ZEW Survey (Jun 2019) Preview - 10:00BST
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- ZEW Survey expected to show broad-based decline in Jun
- CURRENT SITUATION (CS) anticipated to resume descending after rising for first
time in eight months in May 
- Bloomberg Consensus: 6.1; MNI Median: 7.0; Prev (May): 8.2
- Despite trending down in recent quarters, the CS index remains comfortably
above its -5.2 series average
- Domestically-oriented services economy has so far remained resilient
- But there are some tentative signs that weak industry is starting to weigh on
the wider economy (e.g. German UE rose in May for first time since 2013)
- ECONOMIC SENTIMENT (ES) expected to fall deeper into negative territory after
having briefly turned positive in Apr for first time in thirteen months
- Bloomberg Consensus: -5.8; MNI Median: -9.3; Prev (May): -2.1
- External headwinds (trade war, China growth, Brexit) continue to loom large
and keep a sustained recovery in confidence off the cards for now

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