India, Feb. 17 -- German economic confidence weakened unexpectedly in February after a strong rebound at the start of the year, the financial market survey conducted by the think tank ZEW showed Tuesday.
The ZEW indicator of economic sentiment dropped to 58.3 in February from 59.6 in January, which was the highest since July 2021. The score was forecast to rise further to 65.2.
On the other hand, the assessment of the current economic situation continued to improve, with the corresponding index climbing to -65.9 from -72.7 in the prior month. The expected reading was -65.7.
"The ZEW Indicator remains stable," ZEW President Achim Wambach said. "The German economy has entered a phase of recovery, albeit a fragile one," the president added....