German analyst and investor confidence down in May

| May 17, 2011 | 0 Comments
German analyst and investor confidence down in May

The Zew economic sentiment index has revealed German analyst and investor confidence fell for the third consecutive month in May.

The index, which measures expectations of economic activity over the next six months, plunged to 3.1 from April’s reading of 7.6 – the figure was worse than forecasts of a drop to 4.5.

The latest figure represents the lowest level since November 2010 and is way below the historical average of 26.5.

The fall was attributed to rising inflation, driven higher by higher food and energy prices. German inflation accelerated to 2.7% in April.

Meanwhile, Zew’s current conditions index rose to a record high of 91.5, from April’s 87.1.

Both indices are based on a survey of 295 analysts and investors and conducted between 2 and 16 May.

Tags: , , economic sentiment index, , , investor, , Zew

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