Expectations for German Economy Darken In May

Expectations for Germany’s medium-term economic development worsened in May, surprising analysts who had expected an improved positive reading, as doubts rose over the economy’s resilience amid challenging global politics, the Financial Times reported. The Zew indicator of economic sentiment fell to minus 2.1 points this month, down from 3.1 in the previous month and 7.1 points off analysts' expectations of 5.0 for the month. The indicator’s long-term average is 22.1 points. The closely watched poll from the Mannheim-based research house, which delves into the state of the eurozone’s largest economy, showed that the assessment of the economic situation in Germany improved to 8.2 points in May, better than a poll that forecast 6.0 and up from April’s 5.5 points. Read more