Germany’s economic sentiment soars in June

ISTANBUL

Germany’s economic sentiment rose 22.3 points month-on-month to 47.5 in June, according to ZEW data published on Tuesday.

The German economic institute cited the “recent growth in investment and consumer demand” and “the fiscal policy measures announced by the new German government” for the rise in the ZEW Indicator of Economic Sentiment in Germany.

“Combined with the recent interest rate cuts by the ECB (European Central Bank), this could bring economic stagnation in Germany, which has lasted for almost three years, to an end,” ZEW President Achim Wambach said in a statement.

The eurozone’s economic sentiment soared 23.7 points on a monthly basis to 35.3 points in June.

The current economic situation in Germany rose 10 points, reaching minus 72 points, marking the largest growth since April 2023, though it remains the lowest in the eurozone.

Meanwhile, the eurozone’s current economic situation climbed 11.7 points in June versus May, totaling minus 30.7.