German ZEW economic sentiment prints -2.1 in May, a negative surprise

The German ZEW headline numbers for April showed that the economic sentiment index arrived at -2.1 versus 5.0 expectations and 3.1 last. While the sub-index current conditions figure jumps to 8.2 versus 7.5 expected and 5.5 booked previously, missing market expectations.

Meanwhile, the Eurozone ZEW economic sentiment for May arrived at -1.6 vs. 1.0 expected and 4.5 last.

Separately, the bloc’s industrial production was reported for the month of March, coming in at -0.3% m/m vs. -0.3% last and -0.2% previous. On an annualized basis, the figures arrived at -0.6 % vs. -0.8% estimates and -0.3% previous.