Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  November 13, 2012 11:52:49

Germany - according to ZEW investor confidence unexpectedly fell in November

Confidence of German investors and analysts measured ZEW index fell in November for the first time since April to -15.7 points compared to -11.5 points in October. The market expected to improve to -10 points.

The report confirms the negative impact of continued long-term debt crisis in Europe's biggest economy. The decline in performance is confirmed by virtually all data from the fall in exports, despite the reduction in the volume of industrial orders up to the downturn of the total industrial production in the country. Everything indicates contraction of the German economy at the end of the year. In 2Q GDP growth slowed to 0.3% compared to 0.5% of 1Q. Data for Q3 will be published on Thursday 15 November. Market growth is estimated at 0.1% and the stagnation or slight decline in 4Q.
The EC estimates that for the whole year and also in 2013 German GDP will grow by 0.8% in 2014 should then accelerate to 2%. For the entire eurozone EK estimated contraction this year of 0.4% and growth at 0.1% next year.
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