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Germany Economic Sentiment May 2024

Germany: Economic sentiment hits highest in 11 months in May

Economic sentiment came in at 92.4 in May, up from April’s 91.6. May’s result marked the strongest sentiment since June 2023. That said, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.

The headline print reflected healthier sentiment in the industrial and retail sectors. Moreover, confidence in the services sector was healthier in May and consumer sentiment rose. That said, sentiment in the construction sector dampened.

Referring to indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index rose in May.

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