ZCZC
BCN-16
GERMANY-ECONOMY-INDICATOR-INVESTMENTS
German investor confidence picks up in September
FRANKFURT AM MAIN, Sept 11, 2018 (BSS/AFP) – Confidence among investors in
Germany continued a rebound from summer lows in September, a regular survey
showed Wednesday, but remained in negative territory.
The ZEW economic institute’s barometer, based on a poll of 197 analysts
and financial players, added 3.1 points for a reading of -10.6.
While the survey period saw currency crises in Turkey and Argentina worsen
and weak industrial production and orders data at home, “the outlook for
Germany improved slightly despite these unfavourable effects,” ZEW president
Achim Wambach said.
“Significant fears among participants regarding economic developments have
calmed slightly again, which might be down to the new trade agreement between
the United States and Mexico” reached in late August, he added.
Any signs that President Donald Trump’s protectionist instincts are being
soothed is welcome for Germany, whose economy with its massive trade surplus
and powerful multinational firms is sensitive to new barriers to
international exchange.
Aside from respondents’ brighter expectations for Germany in the coming
months, their judgement of the present situation in both Germany and the 19-
nation eurozone improved, as did their view of the outlook for the single
currency area.
But despite the less gloomy picture, September’s headline reading remains
well below the ZEW survey’s long-term average of 22.9 points.
BSS/AFP/MR/1525 hrs