German March ZEW Survey disappoints across all indicators

The German ZEW headline numbers showed that the economic sentiment deteriorated for the month of March, coming in at 12.8 versus 31.1 expectations and 10.4 seen last. While the sub-index current conditions also dropped to 77.3 versus 78.0 expected and 76.4 booked previously.

Both indicators surprised markets to the downside in March.