The ZEW Institute in Germany released economic confidence index data for both Germany and the Eurozone for the month of April on Tuesday, with results showing a very negative outlook compared to market expectations.
According to the data, the ZEW Economic Sentiment Index in Germany fell by approximately 14.0 points, lower than the estimates which predicted it would reach around 10.6 points, and this reading is less than March's figure of 51.6 points.
Conversely, the ZEW Economic Sentiment Index for the Eurozone recorded a decline of about 18.5 points in April, which is below expectations that indicated 13.2 points, yet it remains lower than the March reading of 39.8 points.
The ZEW index is based on a survey of approximately 275 experts from investment firms and economic analysts in Germany, and it aims to measure economic expectations for the next six months in both Germany and Europe, making it an important leading indicator for the future of economic activity in the region.
