"GERMANY: March ZEW economic expectations was 46.6 against forecasts of 52.0 and 55.7 in February; current conditions were 51.3 against a forecast of 52.4 and from 50.0 in February.
German businesses have turned surprisingly gloomy about the economy’s outlook with a sharp drop in the ZEW economic expectations index. This probably reflects the development of the Ukrainian crisis, as Germany relies heavily on Russian natural gas. As the heat turns down in Ukraine, German sentiment should pick up".
