By Maria Martinez 
 

German economic expectations have fallen in April, the ZEW economic research institute said Tuesday.

The measure of economic expectations fell to 70.7 in April from 76.6 in March, the institute said. The outcome is below economists' forecast of 79.5 points, taken from a survey by The Wall Street Journal.

This is the first time that the indicator has experienced a drop since November 2020, but expectations are still at a very high level, the ZEW institute said.

"The financial market experts are somewhat less euphoric than in the previous month," Achim Wambach, president of the ZEW institute, said.

Mr. Wambach said fears of stricter lockdown measures aimed at curbing the coronavirus pandemic have led to a decline in expectations for private consumption.

The assessment of the current economic situation in Germany, however, has improved to minus 48.8 in April from minus 61.0 in March, the ZEW institute said. The reading compares with economists' forecast of minus 52.0 points.

 

Write to Maria Martinez at maria.martinez@wsj.com

 

(END) Dow Jones Newswires

April 13, 2021 05:30 ET (09:30 GMT)

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