German economic outlook upbeat
The German economic outlook continues to be positive for the fifth month in a row, with the monthly ZEW index on the economic outlook increasing to a 12 month high.
On the back of strong stock markets performance in Germany, the assessment of the current economic situation increased by 9.6bsp to 55.1 bsp while the outlook improved by 1.8bsp to 54.8bsp.
The assessment of business climate in the eurozone, which historically lagged behind those of Germany, have now improved, increasing by 11.8bsp to -36.6 compared to the previous month.
“The economic outlook for Germany continues on a high level, the outlook for domestic growth in particular is in line with analysts expectations. At the same time, the lack of progress on the Ukraine conflict and the Greek debt crisis continues to dampen expectations” comments ZEW president Clemens Fuest.
The survey was conducted among 216 analysts and institutional investors in Germany.