Latest data released by ZEW - 10 December 2019
- Prior -24.7
- Expectations +10.7 vs +0.3 expected
- Prior -2.1
- Eurozone expectations +11.2
- Prior -1.0
Slight delay in the release by the source. That's a solid rebound in the expectations/outlook reading as it comes up to its highest level since February 2018.
There is no doubt that economic sentiment has improved a little amid some green shoots but I would caution against getting too ahead in calling a bottom in the German manufacturing recession for the time being.
ZEW notes that the increase rests on the hope that German exports and private consumption will develop better than previously thought. Adding that the hope results from a more positive German foreign trade surplus and more stable labour market.
