14 Jul 2015
German confidence remains solid – ING
FXStreet (Edinburgh) - Analyst Carsten Brzeski at ING Bank reviews the recent ZEW Survey in the German economy.
Key Quotes
“Greek crisis leaves German investors unaffected. Investors’ confidence only took a small hit in Germany in July, showing that the ongoing Greek crisis is hardly affecting the optimism in the Eurozone’s largest economy. Although the ZEW index, which measures German investors’ confidence, continued its recent downward slide and dropped for the fourth consecutive month to 29.7, from 31.5 in June, the overall level remains comfortably high”.
“It seems as if German investors have taken the stance that the Greek crisis or even a Grexit would not harm the German economy and therefore rather focused on the positive impact from the still weak euro exchange rate and the latest drop in energy prices”.
“Whether it is naivety, indifference or just matter-of-factness remains to be seen. For the time being, however, investors’ trust in the German economy is almost impossible to be upset”.
Key Quotes
“Greek crisis leaves German investors unaffected. Investors’ confidence only took a small hit in Germany in July, showing that the ongoing Greek crisis is hardly affecting the optimism in the Eurozone’s largest economy. Although the ZEW index, which measures German investors’ confidence, continued its recent downward slide and dropped for the fourth consecutive month to 29.7, from 31.5 in June, the overall level remains comfortably high”.
“It seems as if German investors have taken the stance that the Greek crisis or even a Grexit would not harm the German economy and therefore rather focused on the positive impact from the still weak euro exchange rate and the latest drop in energy prices”.
“Whether it is naivety, indifference or just matter-of-factness remains to be seen. For the time being, however, investors’ trust in the German economy is almost impossible to be upset”.