Economy

German ZEW Economic Confidence Strengthens In September

German ZEW Economic Confidence Strengthens In September”

German investor confidence rose for the first time in four months in a sign that concern over the risk to growth from the strengthening euro is subsiding.

Confidence in the German economy recovered sharply through September, according to the latest ZEW survey while the broader Eurozone also saw a boost in sentiment amongst analysts who see growth picking up during the months ahead. The score was forecast to rise to 13.

The current conditions index climbed to 87.9 in September from 86.7 in August. Broken down by industry sectors, the balance of readings measuring sentiment for the retail and consumer goods, construction, mechanical engineering, IT and chemical and pharmaceutical sectors were among those which ranked highest.

The ZEW institute's monthly barometer - which measures financial players' expectations for the coming months - leapt from 10 to 17 points in September, outstripping the 13.5 points predicted by analysts surveyed by Factset and nearly recovering July's level of 17.5. The expected reading was 86.6.

Economic sentiment advanced in Germany this month helped by an increase in bank lending, rising investment activities and stable global economic development with market experts appearing to be unfazed by the country's upcoming election, fresh survey data has shown.

And unlike a recent string of white-knuckle European votes, "there seems to be no uncertainty originating from Germany's general election" slated for Sunday, Wambach added.

Wambach said that worries about negative effects of a stronger euro had, for now, also faded into the background. Chancellor Angela Merkel is expected to win fourth term, this time defeating Social Democratic Party leader Martin Schulz.

However, the indicator for the euro area current economic situation fell by 2.9 points to 35.5 points.



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