Germany ZEW
  • Prior -30.8
  • Outlook -34.3 vs -42.0 expected
  • Prior -41.0

The drop in the headline reading sees it fall to the weakest since May last year, with ZEW noting that China lockdowns have contributed to the deterioration in the economic situation, weighing on the outlook for the German economy. But compared to the previous month, respondents still see a rather dire outlook but at a lower intensity as compared to the April survey.