German economic confidence improved notably in May, survey data from the ZEW - Leibniz Centre for European Economic Research showed Tuesday.
The ZEW Indicator of Economic Sentiment rose 22.8 points to 51.0 in May. The expected reading was 32.0.However, the assessment of current
economic situation continued its downward trend. The corresponding index fell to -93.5 from -91.5 a month ago. The score was forecast to
rise to -88.0.
"Optimism is growing that there will be an economic turnaround from summer onwards," ZEW President Achim Wambach, said.The financial market
experts' sentiment concerning the economic development of the eurozone also improved in May. The economic confidence index rose 20.8
points to 46.0.By contrast, the indicator for the current economic situation fell by 1.1 points to minus 95.0 points in May.
Now Germany must pay 135 bill. Euro for the Euro Rescue Fund.
Let's see how this goes.
Seems the Central banks have unlimited power, and we are in a currency battle ...