German ZEW Survey - Economic Data Preview

Germany’s [B]ZEW Survey[/B] of investor sentiment is expected to drop to -8.0 in March from -5.8 in the previous month, marking the first decline in four months. The measure jumped the most since 1993 in February on hopes that the twin offensives from monetary and fiscal authorities will kick-start growth by the end of this year. Since then, the economic data flow has been less than encouraging: the unemployment rate rose to the highest in 9 months, retail sales fell twice as much as was expected, and the current account surplus shrank to the narrowest in over 3 years as exports tumbled. Meanwhile, the European Central Bank has sharply revised its projections for economic growth and inflation, saying output could shrink as much as -3.2% this year while the pace of price growth falls as low as 0.1%. The analogous reading for the broader Euro Zone is expected to print at -12.0 in March, down from -8.7 in February.