Germany’s analysts are becoming increasingly confident that the nation’s economy is on the mend, according to a new survey.
The Zentrum für Europäische Wirtschaftsforschung’s latest economic expectations index – compiled from the medium-term forecasts of 307 analysts and institutional investors – jumped from 52.5 in August to 60.9 this month.
September’s reading is well up on the nadir of 0.6 recorded in December last year and higher than the historical average of 33. Any figure above zero indicates that the upbeat analysts outnumber the downbeat.
Research institute ZEW attributed the surge in confidence to recent positive indicators, such as improved industrial production and orders. The findings support predictions that the German economy will be expanding again by the end of 2003.
Data sourced from: The Wall Street Journal Online; additional content by WARC staff