BERLIN, June 8 (Xinhua) -- The monthly ZEW indicator of economic sentiment for Germany fell slightly by 4.6 points from May to 79.8 points in June, the Leibniz Centre for European Economic Research (ZEW) announced on Tuesday.
"The economic recovery is progressing. Although the ZEW indicator of economic sentiment has experienced a drop in June, it remains at a very high level," said ZEW president Achim Wambach in a statement.
He said the decline in expectations is likely largely due to the much better assessment of the economic situation, which has now risen to pre-pandemic levels.
The surveyed experts' assessment of the current economic situation in Germany "improved very significantly" as the corresponding indicator climbed by 31.0 points within one month, reaching minus 9.1 points in June, according to ZEW.
The current economic situation in Germany returned to pre-pandemic levels in August 2019, ZEW noted. "Due to the very high economic expectations, the outlook is now much more positive than in summer 2019."
Financial market experts surveyed by ZEW continued to "expect a strong economic recovery for the next six months" in Germany, stressed Wambach. Enditem
