Germany's economic morale at over 2-year high

By Tuba Ongun

Germany's economic morale this month rose to its highest level since February 2022, according to data released on Tuesday.

The ZEW Indicator of Economic Sentiment for Germany this month surged 11.2 points month-on-month to 42.9 in April, beating market forecasts.

"A recovering global economy is boosting expectations for Germany, with half of the respondents anticipating the country’s economy to pick up over the next six months," said ZEW head Achim Wambach.

This upbeat mood stemmed from a much-improved assessment of the economic situation and expectations for its top export destinations, besides the strengthening of the dollar and euro, said Wambach.

The ZEW indicator of economic sentiment for the euro area increased 6 points from a month ago to 48.8 in April.