RTTNews - Tuesday, the Mannheim-based Centre for European Economic Research, or ZEW, said its economic sentiment indicator for Germany rose to 31.3 in May from 13 in April, while the forecast was for an increase to 20.

The gauge for the current conditions in Germany fell further to reach minus 92.8. It was in contrast to economists' expectations for an improvement to minus 90 from the previous month's minus 91.6.

With regard merely to the economic activity, more and more signs indicate that the worst seems to be over. However, with regard to the labor market development the worst still seems to come, said ZEW President Wolfgang Franz.

Further, the ZEW said its economic sentiment indicator for Eurozone increased to 28.5 from 11.8 in the previous month and well above the expected reading of 18.

The indicator for the current economic situation in the Eurozone remains almost unchanged on a very low level. The corresponding indicator dropped by 0.2 points to minus 93.2 points.

For comments and feedback: contact editorial@rttnews.com