March 21, 2023 10:35 GMT
ZEW Expectations Reflect Volatile Market Backdrop
GERMAN DATA
MNI (London)
GERMANY MAR ZEW ECONOMIC EXPECTATIONS 13.0 (FSCT 15.0); FEB 28.1
GERMANY MAR ZEW CURRENT SITUATION -46.5 (FCST -44.3); FEB -45.1
- The March ZEW survey of financial market experts declined sharply by 15.1 points to 13.0 on the expectations index, and edged down 1.4 points to -46.5 in the current situation assessment. These readings were slightly weaker than expected.
- The current situation index remains in deeply pessimistic territory, whereby the March fall broke a four-month streak of improving sentiment.
- The survey was conducted March 13-20, encompassing the post-SVB rescue period of the past week. As such, the deterioration in outlooks reflects the currently high level of uncertainty, with respondents downgrading their view on banks' earnings outlooks markedly.
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