15 Jul 2014
German ZEW index sends more signs of caution - ING
FXStreet (Łódź) - Carsten Brzeski from ING points out that the German ZEW index, released today, came in at 27.1, which is the lowest level since December 2012.
Key quotes
"At the same time, the current assessment component dropped for the first time since November 2013."
"Latest data releases have increased concerns about a stagnation of the German economy in the second quarter."
"Weak industrial production, a sharp correction in the construction sector and the reversal of the positive weather effect from Q1 do not bode well for second quarter growth."
"This is not only bad news for Germany but for the entire Eurozone."
"Currently it seems as if only a return of strong net exports and/or a real consumption boom can avoid a stand-still of the economy in the second quarter."
Key quotes
"At the same time, the current assessment component dropped for the first time since November 2013."
"Latest data releases have increased concerns about a stagnation of the German economy in the second quarter."
"Weak industrial production, a sharp correction in the construction sector and the reversal of the positive weather effect from Q1 do not bode well for second quarter growth."
"This is not only bad news for Germany but for the entire Eurozone."
"Currently it seems as if only a return of strong net exports and/or a real consumption boom can avoid a stand-still of the economy in the second quarter."