Analysts at TD Securities note that Germany’s ZEW survey for December was better than expected, particularly expectations which rose from -2.1 to +10.7 (mkt +0.3).
Key Quotes
“The current situation rose from -24.7 to -19.9 (mkt -22.0). The ZEW said that there was a hope that German exports and private consumption will develop better than previously thought, based on a higher trade balance for October, reasonably robust EU Q3 growth, and a stable German labour market. But also added that the unfavourable IP data for October shows that the economy is still quite fragile.”
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