The results of a survey conducted by ZEW showed a deterioration of economic sentiment in Germany in May. The index of investor and analyst sentiment for the next six months fell to minus 2.1 points from 3.1 points in the previous month. Experts had not expected the index to shift to the negative zone, their forecast suggested an increase in the index to 5 points. The indicator, which determines the attitude to the current situation, amounted to 8.2 points, having increased from the April value of 5.5 points and being higher than economists’ forecast of 6.3 points. According to ZEW President, Achim Wambach, the dynamics of the index in April indicates that the financial market in Germany expects a restrained growth of the German economy in the next six months. He believes that the main reason for the possible decline in economic growth is the worsening trade dispute between the United States and China, since exports are the key factor in Germany’s GDP growth.