A three year peak in the German economic mood

The German ZEW economic sentiment index in May, is, increased 20 points higher than expected to 31.1 points from the 13 points of April. But the subindex reflects on the current situation continued to deteriorate.

Behind the the mood improvement was the fact that the majority of asked believes that there are still some signs of economic recovery, and almost certain  that the nadir of the crisis is already over. The labor market outlook is still gloomily, but the export orders have been increased and the decline in industrial production came to an end.